If only it were this simple!
An article from Fast Company suggests Detroit's problems could be solved by a little marketing spin.
Three Columbia University brains put together some suggestions for Detroit based on advice from fellow Rust Belt cities Cleveland, Milwaukee, Pittsburgh and Buffalo, which have tried sore sort of rebranding to fix their post-manufacturing era woes.

Advertising agencies are knocking at the doors of City Halls throughout the Rust Belt. The region has become the target for extreme branding makeovers. Desperate for a solution, mayors and legislators and tourism bureaus seem only too happy to pay the multi-million dollar campaign fees.
Marketing cities is nothing new, but today’s campaigns are much more ambitious and costly. Visit Milwaukee had a 2012 budget of $7.6 million, Visit Pittsburgh budgeted $10.2 million, and Visit Buffalo Niagara allocated $3.3 million for its outreach.So, Detroit, you’re not alone. You have options -- and not all are driven by a great ad. But you’ll need to rethink your current approach. To begin, changing your slogan from Motor City to America’s Great Comeback City (thanks to SMZ Advertising of Troy, Mich.), doesn’t really signal a direction or a value. What are you coming back to?
Oh, and if that doesn't work?
I’d recommend getting into a bidding war with Gary: Give people the homes for $ .50, but they have to move back to Detroit.
Thanks, Fast Company. I think we have it all figured out now.