Detroit’s financial collapse and its dilapidated real estate is a troubling example of the interdependency of local housing market recovery patterns, the job market and economic development that according to insiders does not bode well for other local markets.

Detroit’s troubles are not new, nonetheless its Chapter 9 bankruptcy filing, “the nation’s largest government bankruptcy in history,” is triggering national concern over whether it is “a sign of more trouble to come,” says president and co-founder of NewOak, James Frischling.

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