More than a decade after its bankruptcy, Detroit needs its middle class to grow in order to thrive.
That’s the case being made in a new report released Wednesday by the think tank Detroit Future City, which examined changes in the city’s population, income, education and housing. Detroit has had economic wins and losses in its path toward becoming a middle class city, researchers contend. Since 2012, Detroit has seen an increase in mortgage lending — loans that since 2018 have mostly gone to Black homebuyers. But nearly 100,000 Black residents have left the city in the past decade.
“A strong middle class will fuel economic growth, foster community stability and pave the way for sustainable progress in Detroit and throughout the region,” Anika Goss, CEO of Detroit Future City said in a news release…