From the AP
Michigan foreclosures double in two years, now 2 1/2 times U.S. rate
2/27/2006, 5:14 a.m. ET
The Associated Press
DETROIT (AP) — The number of homes undergoing foreclosure in Michigan doubled from February 2004 to February 2006 to a rate that is 2 1/2 times the nation's, according to a group that monitors foreclosures.
Michigan had 8,240 homes in active foreclosure on Monday out of 96,019 nationwide, the Boca Raton, Fla.-based Web site http://www.foreclosure.com says. In February 2004, the state had 4,085 foreclosures in progress.
Michigan's active foreclosures are 8.6 percent of the U.S. total, while the state's population of 10.1 million is only 3.4 percent of the nation's 296.4 million.
(snip)
7 comments:
It will require courage and a thick skin for lawmakers.
Trim Lansing government and institute massive tax cuts for businesses of all sizes. This has been proven to energize the economy. That way new companies move to Michigan, hire people and truly compete in the marketplace. The cost of goods and services comes down, people buy and everybody wins. Everybody except fat government.
Contrary to rumor, it wasn't the climate that attracted thousands of businesses to the South in the Eighties and Nineties. It was a low tax environment and reasonable cost of living.
We have a rare treasure here. A quality of life for families that is second to none. We will, however, soon lose a great deal of this treasure with business and government as usual.
You should really check out www.michiganliberal.com for the full story.
Michigan home foreclosures are high, but as bad as this is, other news reports suggest Ohio is worse - THE worst, a state with a Republican Governor.
http://www.ohio.com/mld/beaconjournal/news/state/13913481.htm
Nice attempt at free advertisement, Matt.
As for Ohio having a Republican governor, Taft is about as "republican" as Bill Milliken. RINO extordinaire.
I was about to say that I put Bob Taft in the same category as Granholm, but then he's worse, since he's destroying the party down there.
Ken Blackwell needs to clean things up down there.
Man! I'm surprised you folks haven't yet learned that Toyota, grants for college education to high school grads (i.e, more taxes on working stiffs), affirmative action for some (but not all), prayers that God will bless the unions and open voters' eyes to the fact that only higher taxes will stop more fire fighter and law enforcement layoffs, and "Cool Cities" are the answers to Michigan's problems. OOPS! I forgot to mention federal bailouts for auto manufacturers.
Not necessarily in that order, though.
RKG - I had to sleep on it before commenting on this.
"""So what is the solution and who is going to step forward to offer solutions?"""
This is what my solution would be.
1. Eliminate the SBT - there's nothing worse than losing money and still paying taxes on it.
2. Right to work state.
3. Cut the red tape and bureaucracy.
4. Tort reform - enact a loser pay law.
5. Diversify Michigan's economy. Right now it's 28% manufacturing, and most of it is all auto-related.
"Part of the problem is that Michigan makes business owners pay business taxes no matter whether they are making or losing money."
The main reason my business closed. You get to the point that you look at the leeches and think, why don't you wait until we actually have some blood for you to suck ?
Thankfully, for us, after everything was sold, bills paid, etc, we got out debt free. Nothing owed. We were thankful for that much, and that we had marketable skills to fall back on.
So much for the permanant full time jobs we had planned to create. So much for the taxes they would have paid, monies they would have spent locally and State wide.
On an entirely different note,
Does anyone remember Granholm's 'pleading poverty' tour early on ?
I found it, interesting ?, how after telling us how broke we were, and the populace agreeing that cuts were in order ( police, prison gaurds, etc ) She managed to find $50 million to purchase laptops for sixth graders. I'm not against the idea, but I do not see it as taking priority over police services.
Laptops for schools would be nice, but how about actually educating the children, rahter than indoctrinating them.
"Diversify Michigan's economy - Yes. But how do we do it? "
By creating an environment that is friendly to innovaters and risk takers. The government's role is to encourage, with a hands off approach.
"Do we really want to get into a game where the government tries to pick the winners and losers?"
Granholm already is. Remember the development of hydrogen engine initative ? Let's throw all our money at.... the auto industry. I'm sorry that Motown is dying, but by the same token, Motown killed itself. The Saturn's and Toyota's could have built their plants here, but wisely chose not to.
Most likely because between the liberals and the unions they saw it as suicide.
Besides, 'we' don't want those jobs, they're nonunion ( so we can't force democratic policies on them ).
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