As I’ve been saying all along. A lot of cities are fixin to “go Detroit”.
“A lot of cities are fixin to “go Detroit”.”
Here in NJ you can include the suburbs as well; there was no way they could raise the property taxes to actually fund the future payouts to municipal employees (they’d go from $8K per year to $12K overnight), so they’ve been kicking that can down the road for some time (and now they have to pay the piper). The taxes already chase away potential businesses and taxpayers, so they’re really stuck. Streets are deteriorating, municipal employees are being laid off, it really is crumbling.