“Amid efforts to revitalize Detroit’s downtown, some residents are finding they can no longer afford to live there. One program, called Live Downtown, has attracted as many as 15,000 new residents to the downtown area, according to the mayor’s office. Under the program, local companies, including Quicken Loans and Blue Cross Blue Shield, give employees $20,000 loans that will be completely forgiven if they buy and stay in a home downtown for five years. Renters there receive $2,500 their first year and $1,000 the second. The newcomers bring with them money and much needed tax revenue. But they are also causing housing prices to skyrocket.”
http://www.clickondetroit.com/money/I-ve-been-priced-out-of-downtown-Detroit/26182568
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Buy a house in the gorgeous Italian countryside for just £1
Alabama Gov. orders investigation after DNA, blood samples collected at roadblocks
Women to assume combat roles in U.S. military
Robert Parker’s wine ‘bible’ moving to Singapore
New police advice to schools: Confront shooter (unarmed)
Europe's central bank chief above Fed chair in power
Federal gov't to McDonald’s: You are responsible for your franchisees
Glenn Greenwald exposes Obama surveillance to CNN
North and South Korea prepare to negotiate directly after years of mistrust
US issues global travel alert over Al Qaeda threat, prepares to close embassies
U.S. Sentencing Commission expected to recommend lower sentences for drug dealing
Guardian Reporter Glenn Greenwald: We Have List of NSA Targets
Does Anti-Money-Laundering Work? Rick McDonell of FATF Answers
Population trends cloud Europe's post-recession outlook
Fifth of CIA applicants with suspect backgrounds have ‘significant terrorist’ connections