In Michigan, a Look at Our Possible Future

December 29, 2008 RSS Feed Print
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Over the holidays, my husband and I visited his family in Michigan, where almost everyone we know has been affected by the struggles of the Detroit auto makers. Friends can't sell their house that's been on the market for over two years, making it impossible for them to buy a new home in a neighborhood closer to their jobs. (The recent foreclosures on nearby properties haven't helped.) Recent law school graduates can't find jobs, as law firms see some of their biggest clients -- auto companies -- cut back on work.  As one relative told me, "If we stayed here, our future isn't going to be very bright."

Almost every story in the Detroit Free Press -- which itself recently announced it will no longer deliver the newspaper seven days a week -- contains a hint of that deep frustration so many people seem to be feeling. The front page recently featured a story on the growing health care sector, with information on how auto workers can enter two-year training programs to shift careers. The real estate section featured tips on "small spaces for tight times."  And, to top everything off, the Lions finished their season yesterday without winning a single game.

As we noticed the shuttered windows of mom-and-pop shops that had gone out of business since we last visited, I couldn't help but wonder: Is this the future for the rest of the country? I sure hope not. Because while it can be almost fun to rediscover frugality and learn to live within our means, there's nothing pleasurable about feeling trapped with limited opportunities for success.

What do you think, especially if you live in Michigan -- am I being overly negative?

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I am in Florida, so probably cannot relate. However, when visiting relatives in Illinois recently I saw the effects of a Maytag plant closing, moving to Mexico, and it was rough. I don't have the answer, but it certainly seems that we are in a race to the bottom in terms of wages. On the job I am dealing constantly with people who have no money, even though their houses large houses are filled with stuff. I hope that out of this perhaps we will re-learn the value of savings and living within our means.

Glenn Phillips of FL 5:18PM December 29, 2008

I am a Michigan realtor/appraiser.

I felt back in 2003 we were heading for the ditch when they started making no - doc loans to people I knew would never make a payment.

But it seemed everything was being put in place to stave off the inevitable realties of NAFTA.

So here it is with all the manufacturing jobs given away by our own gov't. and the companies built by the hard work of so many Michigan workers, even if the economy comes back there seems to be no reason Michigan will ever be a manufacturing state again.

The geographics suck as well as the climate. It's over move south, remember the southeners would have never come this far north back in the day if weren't for jobs. The jobs are now in the south. Move !!

Jeff Comer of MI 4:33PM December 29, 2008

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, writes about making smarter financial decisions. She’s the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back.

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