Detroit shakes up muni-bond fundamentals | TigerDroppings.com

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TrueTiger
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Detroit shakes up muni-bond fundamentals



quote:

Emergency Manager Kevyn Orr’s plan to suspend payments on $2 billion of Detroit’s debt threatens a basic tenet of the $3.7 trillion municipal market: that states and cities will raise taxes as high as needed to avoid default.


Ruh-Rho

What if there is no one left to tax?


Detroit recovery plan threatens Muni-Market Underpinnings







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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Detroit shakes up muni-bond fundamentals


I don't know why anyone would live there.





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Zach
LSU Fan
Member since May 2005
64049 posts

re: Detroit shakes up muni-bond fundamentals


On Coast to Coast radio this morning I heard an interview with Les Gold, the star of Hardcore Pawn, located in Detroit.

Les said that Detroit has become a major destination for tourists.

Really?







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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Detroit shakes up muni-bond fundamentals


What do they have there?





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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
10361 posts
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re: Detroit shakes up muni-bond fundamentals


quote:

What do they have there?


Ancient ruins?






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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30038 posts

re: Detroit shakes up muni-bond fundamentals


quote:

What do they have there?


Guns, hookers and blow.






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ThaBigFella
LSU Fan
baton rouge
Member since Apr 2006
2043 posts

re: Detroit shakes up muni-bond fundamentals


lots of empty factories,poor black people and sub $50,000 homes to see.

Eh Miguel Cabrera is on the brink of back to back triple crowns and calvin johnson is fun to watch







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cjared036
Alabama Fan
Houston, tx
Member since Dec 2009
6357 posts

re: Detroit shakes up muni-bond fundamentals


Detroit is fascinating. I remember going to a Detroit tigers game and while they have an amazing stadium it was wild to look into downtown and know that half of the buildings there were completely vacant.





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dewster
Maryland Fan
Tennessee
Member since Aug 2006
9068 posts

re: Detroit shakes up muni-bond fundamentals


People are leaving some pretty amazing architecture behind.

It's sad and shocking to see.






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skidry
LSU Fan
Member since Jul 2009
956 posts

re: Detroit shakes up muni-bond fundamentals


A very serious consequence to this, IMO, is if local governments lose their ability (our it becomes too costly) to borrow money because of a trend like this, a HUGE amount of power will again be shifted upward toward Washington because that will be the only source of long term funding. That is very bad.





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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
16023 posts

re: Detroit shakes up muni-bond fundamentals


armpit of america.





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evil cockroach
LSU Fan
27.98N // 86.92E
Member since Nov 2007
5126 posts

re: Detroit shakes up muni-bond fundamentals


quote:

A very serious consequence to this, IMO, is if local governments lose their ability (our it becomes too costly) to borrow money because of a trend like this, a HUGE amount of power will again be shifted upward toward Washington because that will be the only source of long term funding. That is very bad.
yep, Washington can print money to pay the bills, Detroit cannot






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RollTide4Ever
Alabama Fan
Nashville
Member since Nov 2006
9351 posts

re: Detroit shakes up muni-bond fundamentals


There's a new sheriff in town, and he's even talking about cutting property taxes. He.Gets.It.

Decades from now, Detroit will be robust once again. There is some nice housing stock on the cheap, and it's geography is in a prime location.






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battscave
LSU Fan
Member since Apr 2013
253 posts

re: Detroit shakes up muni-bond fundamentals


quote:

Detroit has become a major destination for tourists.
Everybody wants to see the biggest toilet in the world.






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