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Yup. You really need some momentum, or some hope of momentum. Cheap prices ain't gonna do it. Right now Detroit is essentially competing with rural areas in pri
by IkmoIkmo 11y ago
Yup. You really need some momentum, or some hope of momentum. Cheap prices ain't gonna do it. Right now Detroit is essentially competing with rural areas in price, but giving none of the benefits of a city: proximity to jobs, vibrant culture, amenities. It has many of the disadvantages of a city, in excess, like crime. And the momentum is not positive.
Can Detroit rebounce? Surely. But I don't think a smart investor would make a bet on it, outside of specific neighbourhoods and projects.
- ghaff 11y agoAreas of Detroit are apparently rebounding [1] to the point where it's even a bit controversial. (Gentrification is forcing out some black-owned businesses.) But it's very uneven and, yes, I wouldn't bet on the rust belt in general. [1] http://www.theguardian.com/cities/2015/feb/05/detroit-city-collapsing-gentrifying http://www.theguardian.com/cities/2015/feb/05/detroit-city-c...