What's Really Keeping Development From Happening on GM's East Riverfront Property?

[emu steve]

Skipper's rule still applies.

We're now 8 years into the current "expansion" [[the weakest and slowest since World War II) with signs that another recession is imminent. And it's not like Detroit's experiencing a booming economy or population growth either.

So, even in spite of the brownfield tax credits possibly getting approved, I'll be surprised if we see much progress on this development any time soon.

I'm surprised about your comment about "with signs that another recession is imminent."

Other than some slowing of auto sales the U.S. economy has been very steady.

The only thing which makes U.S. economic growth hard to predict is that apparently the Dept. of Commerce continues to have trouble with their statistical model [[seasonal adjustments?) for the 1st quarter of the calendar year which seems to understate economic growth during winter. One would expect 'robust' growth when a mild winter 'pulls' growth, including employment forward, from early spring to late winter.

All of that said, yes, a recession could really hamper Detroit's revitalization plans.

Detroit isn't strong enough to avoid a big hit.