Offshoring Has Little Effect

…Other than it is good for business. That is what is repeated over and over by journalists who feel the need to write about the outpouring of American jobs. What’s the contemporary term being bandied around, workplace evolution.

From an interesting story by Kevin Krolicki of Reuters, Detroit property is selling at auction for a fraction of its value. Click on the above link because the story is interesting and is the extreme case of what is happening in some of our communities.

From the article:

“Detroit, where unemployment runs near 14 percent and a third of the population lives in poverty, leads the nation in new foreclosure filings, according to tracking service RealtyTrac.”

“At a weekend sale of about 300 Detroit-area houses by Texas-based auction firm Hudson & Marshall, the mood was marked more by fear than greed.”

“The city, which has lost more than half its population in the past 30 years and struggled with rising crime, failing schools and other social problems, largely missed out on the housing boom that swept much of the country in recent years.”

“After selling house after house in the Motor City for less than the $29,000 it costs to buy the average new car, the auctioneer tried a new line: "The lumber in the house is worth more than that!"’