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Average home price $18,513 - Unemployment rate 21%

December 21, 2008

The Great Depression has reached Detroit. The average price of a home is now $18,513 and unemployment has reached 21%, and it’s expected to get worse. Detroit is facing a crisis of epic proportions that officially puts Detroit statistically (and real term) on par with the great depression. Many readers of Tribble Ad Agency are advertising centric.. and due to the rash of layoffs within all Detroit Advertising firms has put the city on the map for the wrong reasons.

It has become the center of all that is wrong with America… and nothing of what is right.

For example, the crime rate has fallen…. because of lack of targets within the city. Meaning there is nothing left to steal. In fact, even the criminals don’t want to leave jail.

Heard confirmed that some offenders, notably those without homes of their own, were now expressing reluctance to leave jail when their sentences were done.

Home values have plummeted to levels not seen in 1/2 a century… and the 21% unemployment has in some cases been projected to double within 12 months if the auto industry totally collapses.

To make matters even worse, Detroit has superseded New Orleans as the “worst city” in America…. but New Orleans had a Hurricane they could assign blame to… Detroit has no such natural disaster crutch.

“It’s a depression — not a recession,” McDuell said, with the authority of someone who has lived through both. “It will get worse before it gets better.”

It’s a man-made disaster.

Regarding a local food bank in Detroit that has seen record numbers of individuals entering the system:

“Many people are first-timers — they have no idea how to navigate the system, how to qualify for food stamps,” Wells said. “Last year, some were donors — now they’re clients.”

In short, last year they donated money into the system… now they are feeding from it because they themselves are in hard financial times.

Detroit needs a miracle, the chances of it showing a resurgence is slim to none in the current economic outlook.

EDIT Saturday December 27th — do to a flood of nearly 400 comments, commenting has been shut down for this thread. It’s not that we don’t like free speech… but speech that focuses on Religion, Color and other non-advertising issues are well beyond the scope of this news outlet for Advertising Agencies.

The reason we covered and researched this story was due to the rash of layoffs in Detroit within the Advertising Agency business, as many of these agencies depended on the Auto industry for their income.

We suggest any comments beyond the scope of advertising go to a free speech forum, such as sqlspace.com

Edit 2 : we re-enabled comments… please remember the scope of the site is Advertising.

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Written by TheFounder · Filed Under Advertising Agency News 


Comments

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  • Z Dog

    I agree with NativeDetroiter. Buy Ford stock today and you will be rich later in life. You might even recoup the losses you took in 2008. Also, owning a Ford vehicle in the future will be a status symbol, like owning an American built Harley is today. The morons calling for the demise of the Big Three don’t realize that without Detroit their kids would be learning Japanese or German in kindergarten, would still be riding horses, and listening to crummy music.

  • http://www.tribbleagency.com/ TheFounder
  • http://www.tribbleagency.com TheFounder
  • the golden age of China

    The only money still can be earned with Ford is shorting this stock.
    When will you people wake up? Nobody is buying cars anymore, not only in the States same problem in Europe and Japan. The world is bigger as just the U.S. thats the biggest problem for most people. Change your view and look further.
    When United Kingdom lost his power as supernation around 1900 it went down, and it’s still going down (the pound had become worthless). Now the time has come China will become the supernation and the $ will go down. As long as people like to be threat as a slave (working for 5$ hour at wallmart) nothing will change.

  • the golden age of China

    The only money still can be earned with Ford is shorting this stock.
    When will you people wake up? Nobody is buying cars anymore, not only in the States same problem in Europe and Japan. The world is bigger as just the U.S. thats the biggest problem for most people. Change your view and look further.
    When United Kingdom lost his power as supernation around 1900 it went down, and it’s still going down (the pound had become worthless). Now the time has come China will become the supernation and the $ will go down. As long as people like to be threat as a slave (working for 5$ hour at wallmart) nothing will change.

  • Sam Glorso

    It really gets to me how these companies in the US have just taken so much from all of US and left next to nothing. How much does one man really need, it’s the corp. greed that’s got us here and a President that was one of thier boys. I hope we can get people back to work soon.

    Each day I give thanks to my father’s generation for saving our country from the Nazi’s. Wonder how they’d feel about the way this country’s gone.

  • Sam Glorso

    It really gets to me how these companies in the US have just taken so much from all of US and left next to nothing. How much does one man really need, it’s the corp. greed that’s got us here and a President that was one of thier boys. I hope we can get people back to work soon.

    Each day I give thanks to my father’s generation for saving our country from the Nazi’s. Wonder how they’d feel about the way this country’s gone.

  • http://www.modularhomesnetwork.com/ modular homes

    i think that Go To Original. The Great Depression has reached Detroit. The average price of a home is …

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