http://www.time.com/time/magazine/ar...7864-1,00.html
I didn't want to post the whole article, its quite long, but thought I'd just highlight the two main facts I found pretty amazing.
Right now, 1/3rd of Detroit is abandoned. That means an area the size of San Francisco is sitting vacant, not a ghost town but a ghost CITY.
The average median price for a home in Detroit right now is $5,000. They are saying prime real estate that used to sell for a couple hundred thousand is now selling for $10,000.
If the automakers fail and go bankrupt that means the remaining jobs will go and the city will become even more empty and desolate.
The whole thing is pretty crazy.
