It's no surprise here that Detroit's so-called comeback is uneven, reflecting a Tale of Two Cities.
A report Friday from Moody's Investor Service gives pause to the flowery narrative about Detroit's comeback, reports Chad LIvengood of Crain's Detroit Business:
Property tax revenue "remains weak" outside of the 7.7 square miles of greater downtown, Moody's analysts wrote, a reflection that the "comeback" hasn't reached the city's vast neighborhoods yet.
"Detroit is left with a combustible brew: a reliance on volatile revenue sources and growing fixed costs," Moody's analysts wrote.
