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Detroit files for federal bankruptcy, marking largest case in US history

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The city of Detroit has filed for federal bankruptcy, or Chapter 9 protection, which could mean municipal employees are laid off, assets sold and services like trash collection, which have already been cut to the bone, further scaled back. Detroit has become the largest city in American history to file for bankruptcy. Kevin Orr, a bankruptcy expert hired by the state of Michigan in March to try and... 

$7,100: Average Price of a House in Detroit

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DETROIT — On a grassy lot on a quiet block on a graceful boulevard stands the answer to a perplexing question: Why does the typical house in Detroit sell for $7,100? The brick-and-stucco home at 1626 W. Boston Blvd. has watched almost a century of Detroit’s ups and downs, through industrial brilliance and racial discord, economic decline and financial collapse. Its owners have played a part... 
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