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Expensive downtown and cheap in the neighborhoods, so no, but it's far less clear to me that the neighborhoods will rebound in the way that the downtown area ha
by missingcolours 8y ago
Expensive downtown and cheap in the neighborhoods, so no, but it's far less clear to me that the neighborhoods will rebound in the way that the downtown area has (nearly all of Detroit's non-gentrified areas are overwhelmingly black, and across the midwest predominantly black neighborhoods have proven quite resilient to gentrification, for better or worse).
- blihp 8y agoWas downtown ever cheap during the downturn? I only remember hearing about fire-sale prices in the neighborhoods... which were already quite low before '08.
- colordrops 8y agoIt's seemed to me that gentry is a code word for white and diversity is a code word for black.
- subpixel 8y agoA rebound in not necessary for a real estate opportunity to exist. Even poor non-white people pay rent and there are mountains of money to be made in rental portfolios where you would not like to visit, much less live. But it’s by no means easy money - it’s a super competitive market.