3 ms·

The way that it divides into the race deal makes this easy play for the Author to make it sound like racism at work but to be blunt, all the facts point to the

The way that it divides into the race deal makes this easy play for the Author to make it sound like racism at work but to be blunt, all the facts point to the lower end of the economic spectrum just not having shit for assets to put up on the mortgage. You're going to a bank, asking for $100 grand to buy a thousand dollar house and out $90k in reno into it? What is the bank borrowing against? The house won't be worth $91k all said and done, and renovation is never a sure thing especially when dealing with dilapidated houses. Detroit has spent a very long time digging the hole their in, it's going to take an even longer time to fix it. Also, who the hell is moving to Detroit? I've never heard a peep about this "trend."

thesagan 11y ago
Re: the moving-in "trend" There's been an uptick of post-college types moving in the midtown area, and professionals in the downtown area -- but it's pretty much limited to those two areas, a tiny portion of the city as a whole. It'll be interesting to see how the midtown-downtown area might (or might not) become more a populated semi-region of it's own, compared to the rest of the city (sans a couple of nice remaining neighborhoods) which still looks very empty. If you dig a bit on Google you'll find some press on it, mostly local. I think the some bigger papers did a bit or two about it after the bankruptcy. It's interesting to watch what will happen given the state of the city.