Detroit may be a classic case of the “buy low” “sell high” principle.
The fall of the automobile industry, coupled with a declining population that has been reduced by 26.3 percent over the past decade, Detroit looked like it was poised for total destruction. But since the city filed for bankruptcy in July 2013, there are signs of life and Detroit, like a phoenix, may be rising from the rubble.
As part of a White House plan to lend economic revitalization to the ailing city, the Obama administration granted $300 million in combined federal and private aid toward a Motor City comeback.
However this is only a fraction of the billions the city owes. Most of the $300 million is federal money, along with private foundations like the John S. and James L. Knight Foundation who made a commitment of $5.75 million in aid. According to the New York Times this is divided into $140 million toward transit improvements, $24 million to repair…
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