Relevant:
- Comparing Present Unemployment To Great Depression On A Consistent Basis -- "Great Recession" = "Greater" Depression?
- Detroit's Unemployment Nears 50%
- Finally Someone Has The Guts To Tell The Truth About Detroit's Dirt Cheap Homes
- Demolishing Detroit: A rebirth
- Outside buyers drawn to Detroit's foreclosed homes
2008-12-23 — blogspot.com
"Home values have plummeted to levels not seen in 1/2 a century… and the 21% unemployment has in some cases been projected to double within 12 months if the auto industry totally collapses.
To make matters even worse, Detroit has superseded New Orleans as the “worst city†in America…. but New Orleans had a Hurricane they could assign blame to… Detroit has no such natural disaster crutch.
“It’s a depression — not a recession,†McDuell said, with the authority of someone who has lived through both. “It will get worse before it gets better.â€"
“It’s a depression — not a recession,†McDuell said, with the authority of someone who has lived through both. “It will get worse before it gets better.â€"
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