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re: Detroit shakes up muni-bond fundamentals
Posted on 6/23/13 at 10:40 pm to skidry
Posted on 6/23/13 at 10:40 pm to skidry
quote:yep, Washington can print money to pay the bills, Detroit cannot
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.
1
Posted on 6/24/13 at 3:43 am to evil cockroach
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.
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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