How is everyone in MI dealing with the economy??? (Detroit: mortgage, credit)

[millenniumman35]

I feel bad for all you folks in Michigan dealing with these tough times ahead. I have alot of loved ones from Michigan. I left 4 yrs ago, and now live in Arizona. Economy, Real-estate, job market are all prettty strong in AZ. What happend to my state? Other then the beloved Tigers, Redwings & Pistons its really depressing. I have heard so much about the tanking real estate market, factories closing, layoffs etc. I feel for all of you struggling, and just wonder how the afflicted are working through the tough times for a better tommorow. By the sound of things it will get worse before it gets better....I just wonder what it will take to turn Michigan around. God bless you Michiganders!

[jst333]

I must say, every morning this area SE Mi has nothing but,, worse news to wake up to. The local media, is making matters worse, Anybody notice that when they cant find real news, they ask us questions? EX. "What would $4.00 a gallon cost YOU?""What the real reason for the gas hike?" Tonite, I paid 3.55 a gallon, Ya, it sucks, but Please "Detroit Free Press" Tell me some kind of REAL News, Like Maybe "S.E. MI, Sold 3 houses today" It feels like michigan is being tested everyday, with nothing but bad news. Almost as if we are testing grounds, for the future of whats to come to the rest of the U.S. All we hear is how great it is outside MI. I love this state, and I predicted whats happening right now, back in the 90's. I knew the party here could'nt last forever. Things that I used to have for goals in my life have completely changed. For example I really wanted motor toy's like (Vette,Boat, ext...) Those are things of the past... Now I'm just happy to feed My family and put gas in my tank. Thank GOD I have a NON UNION JOB!, because the union jobs are going away FOREVER. How are others making it here???. I REALLY feel bad for others, Today in the news the poor souls that work at Farmer Jack's will find out if they still have a job tomarrow?? (they are closing and pulling out of michigan), along with maufacturing an home builders(PULTE pulled out awile back). Well, thats My rant, any others.. feel like this is the biggest test of thier lives?? Ohh and My sister just FINALLY sold her house, that they bought in 2004 for 225,900 in 2004, for 179,000, last week FINALLY after a year on the market. And The most mesed up thing,, is ROCK financial is STILL running comercials non-stop to refi and pull money from your home! Just incase homeowners here have ANY money left to try to mortgage! And when thier job is done, and no more money To SUCK Out! THEY WILL LEAVE TOO!. I hope the rest of the country can, get a feel with, Whats going on Here in MICHIGAN, from this post.

[zakian]

Very badly. I've moved back to Mich 3 times since 87 and each time its gotten worse. Everyone is leaving or being lured away if they have the skills. I haven't worked in a year but the economy isn't the only reason, just most of it. All the gov can seem to do is raise taxes on the middle class. Tisk, tisk.

[lavendersunrise]

I am moving! That's my way to deal.

Eventually Granholm will realize you can't run a state on a tax base that that is fleeting! She needs to turn it around or it will be too late to turn it around.

[CaboolBound]

We are moving to Missouri in June. Good bye Michigan and hello a breath of fresh air. Good Luck everyone who is staying in MI.

God Bless,
Jim and KIm

[wanderer74]

Definitely moving, but it will probably have to be next year so that we can line up all our cards right. I think there is a lot that MI has to do before it will be able to turn around, and there aren't enough people here willing to make it happen. The whole state overall seems to be very backward-looking, trying to recapture the glory days of the 60s and 70s when the automakers ruled and anyone with only a high school education could get a great-paying job with one of the Big Three and be set for life. If more people here were willing to look at what the states with the good job markets have in common and consider implementing similar changes here, maybe it could turn around. But it seems like Michigan as a whole is stuck in the past and even if there were political candidates who wanted to move us into the future, people probably wouldn't vote for them.

It's hard for me to give up on the state, in all honesty, but I just don't see it turning around any time in the next 10 years. I would really like for my kids to grow up in a place that has opportunities for them, instead of feeling forced to choose between the "home" (where my family and roots are) and prosperity. That's how it has been for me and it's a really painful choice to make.

[reverendschenk]

Were are cutting back and being less wasteful, we don't have credit card debt and we don't have all the toys, bells and whistles just because we can afford them, we are doing well as we live within our means. No we don't have everything we want, but we have everything we need. Family, Friends and a roof over our heads..

Rev. Sheila

[jst333]

WOW!, My thoughts and parayer's are with YOU!, I thought things were getting bad for Me, But your post really capture's the feeling here in MI. I have seen lots of people waliking on the side of the road and lots of people going thru dumpters... But I hav'nt seen people living out of thie cars. Good luck to you.! Just wondering...?? how do you access the internet and post from you car??? Also I agree, "RECALL THE MOLE!" (gov. Granholm) she's lied to US long enough! People need a reason to come to Michigan, and TAXING them is not the answer!!

[Schaumburger]

^Michigan is suffering from some incredibly insulting politicians -- on both sides. Michigan disinvestment, if there is any, might relate to LACK of taxes... ask anyone business outfit how they feel about the lack of an SBT. Your likely to get an uneasy feeling about what is next on the tax horizon. Outlawing the SBT without a replacement tax has brought more problems with it than we were told it would solve. The problem is, the SBT, while cumbersome and unfair was still a predictable tax. Businesses like predictability, especially predictable taxes.

Originally Posted by feelsorryformichiganfolks

What a sad time for the people of Michigan (including us). We lost everything we own including our house. At this point, if you live in Michigan and plan to stay, you really need a life savings or you will loose everything eventually. For those that read this post and say it won't happen, I feel sorry for you! We had a moving sale and three families at the sale lived in their cars. Anyone that looses their job will not find another.

This is not a bump in the road people, this is disaster. This is not like the 80's or any other bad economic time. This is terrible planning and devistating decisions that will take this state off the map within five years.

We sat here and cried and felt sorry for ourselves for months while looking for a job and loosing all our stuff. Well, it's true, you only need food and a roof over your head, but when Jenny takes that from you too, you will find some pretty cold nights in your car or on the street. So don't do what we did and pout, close the door on your house and get out. Best to plan ahead! You think your job is secure, think again! If you have any debt, pay it off now, sell your house, and move out as quickly as possible. It's innevitable that Michigan will be shut down. Don't be the last one to turn the light out in Michigan.

Did you try moving around the state? Was moving out of the state the best option? I'm looking at this from the half full perspective and seeing Metro Grand Rapids as gaining real ground. I'm disappointed the realities of economic inconsistencies have exacted its toll on you. I'm not particularly fond of your Granholm comment, but I can at least understand your frustration.

[scottmi65]

Hmmm, is it really that bad in MI. I grew in Newaygo county and all my family still lives there. I do not know anyone who is unemployed or losing their house.
I just took a job in the Detroit area that pays over 70k and is not auto industry related?
So I am looking to buy a house in the east washtenaw county area should not be too hard, reading these threads it sounds like everyone is leaving the state.