Quote:
Originally Posted by uaarkson
I should have kept working at Toyota and bought some houses in Ann Arbor and Detroit.
|
Metro Detroit home prices up 41% since December 2012
No kidding. Though the bigger factor in this case is a general lack of new residential on the market rather than any major positive changes. Unemployment has been going down but at a rate similar to the rest of the country if not a little slower.
However, there's still hope. Prices in Detroit ought to remain low while the city is going through bankruptcy and there's still plenty of blight to content with. But I suspect that once the city is order (services, crime, and blight), transit is improved (at the least, improved bus service), and more jobs are being generated (rather than just moved around), then oh yea, real estate has no where to go but up.
