As PulteGroup Flees, Detroit Housing Actually Heats Up

PulteGroup Inc., the largest U.S. homebuilder by revenue, knocked down 10 blocks on Detroit’s Southeast as part of the proposed non-profit Detroit Blight Authority program Photograph by Jeff Kowalsky/Bloomberg

The news last week that PulteGroup, the country’s largest homebuilder, would move its suburban Detroit headquarters to Atlanta could hardly come as a surprise to Michigan’s business community, which can add this sorry chapter to the endless chronicle of the region’s decline. Only 8 percent of Pulte’s investments come from the Midwest these days, while 37 percent of closings last year were on properties in the Southeast. The company will take with it some much-needed tax revenue and the trickle-down effects of about 325 relatively plump salaries, although the builder is far smaller after laying off 80 percent of its total workforce amid the housing downturn.

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