According to the Detroit Free Press the economy in Metro Detroit is on the rebound!! YAY!!! The article, courtesy of the Brookings Institution and the London School of Economics, stated that after lagging most global cities in economic growth leading up to and during the recession of 2007 and 2008, the metropolitan Detroit area is posting an above-average economic growth coming out of the recession. This is nothing but good news for those of us who live and work in this area. Detroit, has been one of the hardest metro area's hit during this recession. Out of 150 global cities, Detroit ranked 147th pre-recession, 146th during the recession and now in recovery we are getting a ranking of 46th. Metro Detroit, which is defined as the entire southeast Michigan region, is growing most in part to employment growth (0.6%) and income growth (3.2%). These may seem like modest gains but they outpaced two-thirds of the other 150 cities studied. So things may not always be as they seem, we now have proof that things are getting better, despite all the negative press that you hear. So here's to continued economic growth, nobody deserves it more than we do!
Trent Dalrymple
Metro Mortgage Investments
(248) 547-3006
Comments(0)