Detroit Recovery Begins Where Philadelphia and Leipzig Converge
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Milwaukee, Cleveland, Philadelphia, Washington and even Leipzig, Germany, show that bankrupt Detroit isn’t hopeless -- although using hope and Detroit in the same sentence requires a leap of faith.
The Motor City’s numbers suggest irreversible decay: Each day, an average of 15 vacant buildings flood, often after thieves steal pipes. A July report said the city was mailing water bills to more than 30,000 uninhabited properties. Detroit pays $62 to process each paycheck for its 9,560 employees, compared with an average of $18 for U.S. public employers. Overshadowing it all is $18 billion in long-term obligations.