Detroit Loses A Quarter of its Population During the Past Ten Years

From the year 2000 to the year 2010, 25% of all residents of Detroit left the city! The United States Census Bureau found that Detroit’s population went from 951,270 in the year 2000 to 713,777 in the year 2010. Detroit’s population is now at its lowest point since the year 1910.

Detroit’s Population Rises and Falls with Fluctuations in the Car Industry

At the beginning of the 20th century, Detroit’s population increased dramatically. This is related to the automobile industry establishing numerous facilities for the production of cars in the Detroit area. There were 285,000 residents in Detroit in the year 1990. In the year 1950, there was 1.85 million residents of Detroit. At that time, Detroit was the fourth largest city in the United States! The recent census report showed that the State of Michigan was the only state in the country to have a cumulative loss of population during the past decade.

Jobs Leave Detroit

With the down turn in the automobile industry related to the current economic crisis in the United States, there have been numerous lay-offs of automobile workers in the Detroit area. Detroit is an example of how changing economic circumstances affect former industrial base cities in the United States. The industrialization and low cost production of automobiles in Japan and Korea have contributed to the loss of jobs in Detroit. In addition, many automobile plants have been relocated to southern states in the United States. Many of these new automobile plants are not unionized and they can pay workers less money to live in the south than they can in the north.

Foreclosure Crisis

The loss of jobs and population are also related to the foreclosure crisis that exists in the Detroit, Michigan area. The downsizing of the automobile industry has caused home prices to decline and has eliminated the ability of many of the former auto workers to make their mortgage payments. This is contributed to the overall decline of the Detroit area.

Foreclosure

Our law office represents individuals whose homes are in foreclosure. We assist our clients in mortgage modifications and we deal with mortgage modification programs that fail. We litigate numerous mortgage related issues such as defective mortgages, defective foreclosure lawsuits, bad faith and predatory lending issues. We deal with foreclosure related bankruptcy problems. We educate our clients concerning foreclosure options. We maintain this foreclosure blog to educate our clients, and the public in general, concerning issues related to the real estate industry. We file Chapter 7 and Chapter 13 bankruptcies on behalf of our clients to deal with financial difficulties. We can stop foreclosure and sometimes eliminate second mortgages. Call us for a free consultation at 1-800-344-6431, 516-561-6645 or 718-350-2802.

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