Billions in Debt, Detroit Tumbles Into Insolvency

The municipal bond market will be paying particular attention to Detroit because of what it may mean for investing in general obligation bonds. In recent weeks, as Detroit officials have proposed paying off small fractions of what the city owes, they have indicated they intend to treat investors holding general obligation bonds as having no higher priority for payment than, for instance, city workers — a notion that conflicts with the conventions of the market, where general obligation bonds have been seen as among the safest investments and all but certain to be paid in full. Officials in other financially troubled cities may feel encouraged to follow Detroit’s path, some experts say. A rush of municipal bankruptcies appears unlikely, though, and leaders of other cities will want to see how this case turns out, particularly when it comes to pension and retiree health care costs, said Karol K.

Detroit's White Population Growing for the First Time Since 1950 It’s no secret that Detroit, especially Downtown and Midtown, is going under some changes with major construction to revitalize the downtown area. But that’s not the only thing that’s changing. Stephen talks with Christine MacDonald, a staff writer for Detroit News, and Ariella Cohen, Editor-in-Chief of NextCity.org about the growing white population in Detroit. Detroit: Stephen notes that Detroit’s overall population isn’t growing. People are still moving, but the downtown area is seeing a population growth it hasn’t seen since 1950, led primarily by white people. Click the audio link above to hear the full conversation.

Population Of Detroit In 2016 Detroit the most crowded city of Michigan and the biggest city on the United States-Canada border. The seat of Wayne County and the most crowded in the state. The city’s metropolitan range, known as Metro Detroit, is where around 5.3 million people live, making it the fourteenth-most crowded metropolitan region in the country and the second-biggest in the Midwestern US and just behind the city of Chicago. With extension of the automobiles business, range rose as a critical metropolitan region inside of the United States in the mid twentieth century, when the city turned into the fourth-biggest in the nation for a period. The city had a population of 703,284 in 2011, 698,582 in 2012, 701,475 in 2013, 700,872 in 2014. Therefore, to get the projected population of 2015, we need to take an average of the trend of population from the year 2011-2014. The city is the focal point of the urban region. It is controlled and governed in accordance with the Home Rule Charter of the City of Detroit.

Top 10 reasons Detroit went bankrupt Detroit declared Chapter 9 bankruptcy July 17, making it the largest city in American history to enter the municipal bankruptcy process. A local judge ruled that filing unconstitutional July 19, but, as the city sorts out its next move, here are 10 key facts about the causes of Detroit's financial mess. 1. Detroit was America's fourth-largest city in 1950, when it had 1.8 million people. Yes, fewer people means a smaller tax base, but the real problem is the city's government did not shrink along with the population -- more on that in a bit. 2. This is both a cause and an effect of the population situation. 3. That's a lot more than some of the other high-profile municipal bankruptcy cases in recent years. "Detroit has been working its way to a level of insolvency for decades. 4. According to Moody's, Detroit has about $3 billion in unfunded pension liabilities. 5. Though Detroit's population has caved in the past several decades, the public sector just keeps on growing. 6. 7. 8. 9. 10.