4 ms·
Land is finite but the desirability of the land can change. Detroit used to be a tier 1 American city.
by supertrope 4y ago
Land is finite but the desirability of the land can change. Detroit used to be a tier 1 American city.
- beauzero 4y agoSo did Butte and Anaconda, MT.
- vidanay 4y agoFor a corporation that is flush with cash, Detroit is potentially a good buy with long term potential. A 50 year timeline is not unrealistic.
- selectodude 4y agoSuch as, say, Dan Gilbert and Rocket Mortgage.
- asdff 4y agoIs it a better buy than somewhere else is the big question though. Sure maybe you'd make your money back in 30 years but that's not what gets investors going. Otherwise everything would be powered with nuclear energy by now.
- redsparrow 4y agoDetroit going bust is bad if all of your property is in Detroit, but if you have property in 100s or 1000s of cities then the individual booms and busts become less relevant.