Quote:
Originally Posted by middeljohn
Buildings belong to private entities, not Detroit or the US and thus can't be used as part of the valuation.
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Yes, but you think your going to simply buy a little debt and get half a trillion dollars worth of added value for free? Surely you jest.
That's like saying 'I replaced your mailbox therefore I get to own your house'. LMAO. Um, No.
The federal govt and state government get billions in revenue every year from the 5 million people who live in Metro Detroit, both from income and property. Not to mention export dollars from Ford and GM.
And then there are institutions like the University of Michigan, one of the most formidable public universities in the United States and 23rd in the world according to the 2013 Academic Ranking of World Universities, higher than ANY Canadian school. That alone will set you back what? 15, 20 billion?
I mean, the cost just keeps adding up and keep in mind, Canada already has 1.2 trillion in sovereign debt.