Category: Michigan

The least surprising takeover of the century

11 March, 2013 (16:12) | Bankruptcy, Cities, Detroit, Infrastructure, Michigan, Municipal bankruptcy, public choice theory, Receivership, US News |

By:David A. Smith   In fulfillment of the least clairvoyant prediction I’ve made or am likely to make, Detroit’s governor Rick Snyder has announced that he will appoint an ‘emergency financial manager’ to take out executive responsibility in Detroit, and when that happens, it will in effect place the Motor City into receivership.  As reported […]

Rebuilding the city’s economy: Part 2, gentlemen, start your engines

10 May, 2012 (11:12) | Cities, Detroit, Economics, Markets, Michigan, Municipal bankruptcy, Receivership, US News |

[Continued from yesterday's Part 1.]   By: David A. Smith   In yesterday’s post, using stories from The Economist and a followup in Reuters, April 4, 2012), we saw that Detroit was on the brink of either running out of cash (by early May), or going into municipal bankruptcy, or accepting aid and financing assistance […]

Fleeing the city

7 April, 2011 (11:42) | Cities, Demographics, Detroit, Markets, Michigan, Municipal Finance, Theory, US News |

By: David A. Smith   Once people have decided to move, the question is, how far?  You can move house for a better or cheaper place.    Disinvestment straight ahead   You can move neighborhood for a better school.  You can move long distances for relatives, or retirement, or a much better economy.  Or you […]

Development’s zebra: Part 2, time to rethink

4 February, 2011 (15:43) | Eminent domain, Land use, Local issues, Michigan, Real estate taxes, Regulation, Takings, Zoning |

By: David A. Smith   In yesterday’s post, we encountered feisty combative Saugatuck, Michigan, which as reported in a December 21 Wall Street Journal, has spent most of the last three years devoting a vast and increasing share of its local budget to defending its abrupt downzoning of billionaire Aubrey McClendon’s property, and so depriving […]

Development’s zebra: Part 1, on the attack

3 February, 2011 (16:19) | Eminent domain, Land use, Local issues, Michigan, Real estate taxes, Regulation, Takings, Zoning | 1 comment

By: David A. Smith   Zebras are not domesticable:   Try to saddle me, will you?   They are unpredictable and are known to attack people. To be domesticated, animals must meet certain criteria. For example, they must have a good disposition and should not panic under pressure. Zebras’ unpredictable nature and tendency to attack […]