Earlier quoted context omitted.
> empty statement Sorry, it's your cite. > explain Simple. People sharing living arrangements deciding to not share anymore. Fewer families with children, more single professionals. Confusing Detroit the city with Detroit the metropolitan area.
Both the detroit city and detroit metropolitan areas have decreasing populations and drastically increasing rent prices. The share of unoccupied housing exploded from 2010 to 2018, to 23%, according to the census. This is a sure-fire indicator that supply is far, far superior to demand. And yet, the price of rent increased. This means that supply and demand simply does not explain the rising price of rent. I don't se…
"Despite the increases in Detroit, the city's average rent is still among the lowest in the nation at $610. But that's quickly changing in and near downtown and Midtown, where the flow of new residents is creating a greater demand for housing."