Investing in Detroit, Warren Buffett said yesterday, is an increasingly appealing proposition, and will be “much better after the bankruptcy than before,” Fortune Magazine reported today. In part, that’s because the city’s finances were clearly unsustainable before now, and no one wants to invest in a place that’s headed for chapter 9. But Buffett added that the city is going to be “employing a lot more people five years from now or 10 years from now,” than it does today. “You don’t do it without cost,” Buffett said of the bankruptcy. “But it was important that Detroit cleared the slate, and it looks to me like they’re doing it promptly.”
