Why hasn't Detroit ever owned up to its urban planning blunders?

[Detroitnerd]

I don't deny that Detroit was much more economically significant back then. But how did "urban planning blunders" destroy the stock market? If Detroit's Stock Exchange had equal significance to New York's and if Detroit had a similar equality in all other businesses, would Detroit's "urban planning blunders" have had a detrimental affect on those exchanges and businesses?

I never said urban planning blunders destroyed the stock market. I never said Detroit's stock exchange had equal significance to New York's. Do these debate tactics usually work for you?

The wealth was tied to the auto industry. Factories were moved out of the city. Nothing replaced them. People with capital have no use for abandoned factories [[generally). The factories were outdated and there was not enough clear land to expand. White residents left because they didn't want to live near blacks and it was cheap and easy to built new homes in the suburbs. Black residents left because they didn't want to live near bad blacks and it is cheap and easy to buy homes in the suburbs.

The wealth was tied to auto executives, who used it to build huge mansions outside the city and build new factories outside the city. Capital flight was always much more severe in Detroit than population flight, believe it or not.

As for those comments about "bad blacks," keep digging, mister. Read Sugrue's book for an account of "block-busting."