As Detroit Becomes Largest City Ever to File For Bankruptcy Protection, Economic Waves Will Crest Across The Nation

We all knew it was coming as city and state leaders came to an impasse with Detroit’s creditors, and now the largest municipality in history has filed for bankruptcy protection.

This is big news for everyone, not just Dallas, as I’m sure creditors of the more than $19 billion in municipal debt rung up by the city are not tightly packed around Detroit. One of the biggest issues is how the city will manage its 700,000 inhabitants, spread across an unmanageable and mostly vacant city.

So, how will Detroit recover from this blow? Should suburbs surrounding Detroit take a stab at annexing some of the city’s outlying real estate?