Evidence of a continued recession and the ongoing fallout of MI foreclosures was manifest in a recent, unexpected turn of events at an apartment complex in Melvindale. Over ten thousand applicants arrived at Coogan Terrace last week, a complex which qualifies for the Housing Choice Voucher Program, also known as Section 8. This 199-unit high-rise [...]
Reflecting the huge losses banks are taking on their inventory of MI foreclosures once resold on the open market, the recent auction of the Silverdome for just 1% of what it cost to build in the early 1970s reveals just how difficult things have become for commercial real estate ventures. However, that sale has been [...]