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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Chas. who wrote (49971)3/10/2006 10:17:19 PM
From: Think4YourselfRead Replies (2) of 306849
 
OT: Don't see any way for Detroit to avoid going into receivership. I personally only pay about $15/month for water/sewer so don't much care if they raise rates a bit.

Have you been following the water story? For those who might be interested, Detroit serves itself and all the surrounding counties, several million people. They pull water from the bottom of Lake Huron through MASSIVE underground tubes about 70 miles long. We have some of the best and healthiest water in the country. Detroit and the suburbs are always fighting over the water rates. Detroit is on the verge of bankruptcy and wants to charge the suburbs more for water to fund all the cities bad financial decisions. Suburbs are disgusted and courts are often involved (Detroit usually loses). When this rate increase was announced the whiners in Detroit told the city it wasn't fair that the poor in the city had to pay the same for water as everyone else. they marched on the city council to DEMAND special treatment the other day. Most of the council members knew that the courts would overthrow any special rates so most didn't bother to show up for the special council meeting Kwami (mayor) told them to attend. Without Quorum the council couldn't act. Kwami and the whiners got burned and everyone else had a good laugh at their expense.
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