Weak economy
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11/28/2006
Metro-Detroit has been very hard hit with the problems tied to the auto industry. Pockets of companies doing fairly well, but very high unemployment, very weak economic growth, and record foreclosures in this area (Oakland County). Massive downsizing, and many companies have closed their doors. The city proper and surrounding suburbs' fortunes rise and fall with the Big Three - not a diversified economy by any stretch. Property values have plummeted as a result of many people leaving the area. Area in general has deteriorated considerably in terms of the local economy compared to 5 years ago. Massive layoffs at GM and Ford have hit this area very hard, and if you are considering moving to the area, you should be very careful to consider the deteriorating economic climate. Farmington Hills does have a decent school system, and many area neighborhoods in Farmington Hills have significant wealth. Crime is increasing - and would speculate that this is directly related to the economic woes.
John | ,