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When housing prices crash in Detroit and SF, which market do you buy in? Exactly. Grouping SF with Detroit is utterly ridiculous.
by pengaru 2y ago
When housing prices crash in Detroit and SF, which market do you buy in?
Exactly. Grouping SF with Detroit is utterly ridiculous.
- incomingpain 2y ago>When housing prices crash in Detroit and SF, which market do you buy in? Today, I wouldnt buy either with someone else's money. In the detroit area, I bought my old place for $30,000. Did my own home renos. sold $190,000 a few years later. In the same era when detroit was selling 4 bed 2 baths, with no neighbours for $5000... Obviously i didnt buy any of those money pits. I went for the mansion. >Exactly. Grouping SF with Detroit is utterly ridiculous. I'm not sure how 'exactly' was a response here. The automotive and manufacturing industry in detroit made real estate ridiculously expensive in the 1940s and 50s. Detroit immediately before it's collapse had ridiculous housing prices exactly the same as San Fran. With much the same problems as the bay area. Much worse than the bay area average. Detroit had homeless ghettos of mostly unemployable southerners; while rich business owners left the city en masse. What do you think just happened to san fran? Got any homeless ghettos in san fran?