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Good Economic News For Detroit

by

DETROIT, MI (WKZO) -- There is more encouraging economic news for a part of the state that hasn’t seen a lot of good news in recent years.    Chrysler has announced its net income rose 80% in the third quarter of this year compared to last .and Ford is announcing its best Third quarter ever. The automaker is reporting a pre-tax profit of two-point-two billion dollars.  Ford also ended the period with a net cash flow of 34-point-four billion dollars.  This is a 500-million-dollar increase over the second quarter. The Cars in Detroit aren’t the only things that are selling. 

The latest S&P/Case-Shiller report on home prices in the nation's 20 largest markets shows a fifth consecutive month of improvement. Housing prices have risen for 14 straight months in the Motor City, and housing sales are so brisk that the four county area hit a record low for inventory in September.

The strength of Detroit's housing comeback which preceded the fledging national housing recovery is reflected in improved numbers for three months.

 

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