No corner of Michigan has escaped unscathed from the “Big Flush,” the loss of billions upon billions of dollars in property values. In five years, total Michigan property values plunged by more than $260 billion, according to an analysis of state records by Bridge Magazine. But while the decline continued over the last year, it […]
Business Watch
Covering the intersection of business and policy, and informing Michigan employers and workers on the long road back from coronavirus. Our Michigan Economic Dashboard shows key metrics that show how the state is performing.
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In Michigan suburbs, once-pricey bedrooms worth less
Some 15 miles southeast of Ann Arbor, the cozy bedroom community of Milan belies stereotypical views of Michigan’s economic decline. Largely white, nestled around a quaint downtown and dotted with upscale, newer homes, it projects the very image of suburban prosperity. Analysis of property values in 2011 and 2012 tells another story. In a city […]
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Property value drops exceed 30 percent in parts of SE Michigan
It might be only a slight exaggeration to say that as Southeast Michigan goes, so goes the state. The region, with roughly 50 percent of the state population and the driver of half its economic activity, suffered the steepest drop in the state in total property value over the past five years. And though there […]
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Billions more lost, but property value drop slowing
In five years, total Michigan property values plunged by more than $260 billion, according to an analysis of state records by Bridge Magazine. But while the decline continued over the last year, it slowed considerably. Values dropped from $725.5 billion in 2011 to $698.6 billion in 2012. Adjusted for inflation, that amounts to a drop […]
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Detroit’s problems echoed in a (far) smaller Flint
The website is not the type of brand identity any city would seek. Called “Abandoned Flint,” it posts photos of ruined homes and businesses and a running commentary that reads like a post-modern apocalypse. Under photos of “Abandoned Travelodge,” it notes: “… people have totally trashed and looted it. Every single window was shattered. And […]
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Traverse City, Ann Arbor home sales point to brighter 2013
In parts of Michigan, a “For Sale” sign in front of a house is quickly followed by another: “Sold.” Realtors from Grand Rapids to Ann Arbor to Traverse City are reporting trends notably absent in Michigan for years. Home values are rising. And marketable houses in decent shape are often snapped up in a matter […]
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What's property worth in your hometown?
The total value of property in Michigan dropped about $36 billion, in inflation-adjusted terms, between 2011 and 2012. And that constitutes good news on the property front in the Great Lakes state in recent years. The $26 billion drop – a loss of 5.7 percent – is far less than the declines seen since the […]
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Detroiters pay more for auto insurance, but how much more?
To start to understand why auto insurance costs so much more in Detroit than it does outside the city, it helps to start with some statistics. First: Two-thirds of all cars stolen in the state of Michigan are stolen in Wayne County, which has not quite 20 percent of the state’s population. “It’s astounding, those […]
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State caught in troubling jobless trend
Almost half of Michigan’s unemployed in 2012 were jobless for at least six months. And the average jobless Michigan resident went without work for more than 10 months. As Michigan’s economy improves and job openings proliferate, a troubling trend is revealing itself in kitchen-table stories and government analyses: The long-term jobless may be in danger […]
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State looks to turn trickle of returning college grads into a flood
BACK IN MICHIGAN: Courtney Vaught, 27, and her fiancé left Michigan after they were laid off in 2010. But a promotion brought them back. Gov. Rick Snyder and other state leaders are trying to find methods to replicate Vaught’s story and raise the state’s percentage of college-education workers. (Bridge photo/Lon Horwedel) Laura VanHolstyn graduated from […]
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