Detroit is poised to make a real estate turnaround. But it still requires months of hard work and smart decisions. If the market is to rebound, real estate investors need to be practical and insightful. They need to asses their personal capital, address issues with their credit, and ensure that their income is secure. To do this, working with a trustworthy realtor, or being well versed in the local market helps. In today’s temperamental market, the best policy is preparedness and transparency. If done correctly, cities across the United States will begin to pull out of the global credit crisis. Detroit Public Schools has begun investigating every lease and real estate transaction over the last several years to determine whether misspending or overcharging occurred, the district’s emergency financial manager told the Detroit News this week. Robert Bobb, the emergency manager, said Thursday he plans to conduct public hearings and call witnesses next month as part of his inquiry into the millions of dollars in cash the district spent on leases and land acquisitions. The investigation, conducted in part by the district’s new inspector general, will include reviews of school site purchases and controversial leases and real estate purchases at the Fisher Building in Midtown, where the district is headquartered. The district spends $2.2 million on real estate leases annually, a district spokesman said. Board member Marie Thornton and others have raised questions about the cost of the leases and said the offices used by administrators, including the one Bobb took over at the Fisher building, are extravagant. She criticized the district for leaving its previous office space and said district officials should be housed in one of the closed buildings. Such investigations are part of an ongoing process to look into possible corruption and wrongdoing in the troubled school system, which faces a $306 million deficit and plans to shutter 29 schools for the fall. Bobb tapped a former agent for the Federal Bureau of Investigation to head the district’s new Office of Inspector General. That office has 40 ongoing investigations, Bobb said. So there you have it, Detroit has room with which to work. But it is going to take lost of hours and cooperation to get it done. One thing the city has going for it is that it has been living under these conditions for decades. If they can glean the right lessons from years past, they might be able to become an innovative city the rest of the country follows.
Watch the video related to detroit
Julien Temple 2010 BBC documentary on the urban decline of Detroit www.guardian.co.uk
Help answer the question about detroit
Is there anywhere in Cincinnati that I can watch Detroit sports?I know this is unlikely, but I just moved to Cincinnati from metro Detroit and I'm a huge Detroit sports fan. Are there any bars that may televise Detroit sports?
Also do you know if satellite services would offer a Detroit sports package?
About Author
michaelrussell -
About the Author:
Michael Russell writes about a variety of subjects. This article discusses Detroit real estate. For more information, visit the Real Estate Book.