Detroit New Year Gunfire 2019
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Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
21–30 of 71 posts
Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#22Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#23Being from the Detroit area, I find many of the comments here naive as one can't compare Detroit to an average urban city.
To understand what Detroit is like, watch a film like "Escape from New York" or a WW2 bombing documentary.
There are areas with no police or fire forces.
Also, the soil around mfg. plants (and downwind) have metal contamination. The air quality used to be worse than anything in China today, with choking curtains of black and red soot and oxides which precipitated into the soil.
So do your homework, get your firearm certifications and spend some time there before any relocation or investment.
It is a great location if you want cheap industrial space or your own truck marshalling yard (true story) and you don't need city services like elementary schools. Check out "Detroit Steel" to see more:
Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#24Downtown Detroit is kind of starting to seem like a Potemkin village. A lot of these “comeback” articles focus primarily on the development in a tiny portion of the city that honestly never declined that much to begin with, in comparison to everything else. Crime and poverty are still insanely high. The school system is a tragic disaster. The majority of the urban area is still abandoned and blighted. It’s really not…
Are the emergency services still really slow and the property taxes reasonably high?
Because if so.... Not much of a comeback. Would be like comparing Greenpoint to Canarsie
Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#25Earlier quoted context omitted.
The Midwest has a plethora of good opportunities for investors. It’s not overpriced like most of the coasts. Couple that with qualified opportunity zones and things will be heating up this year. Starting a fund soon with someone who has made millions in real estate within the Midwest. We intend to help others profit in these markets. Fund isn’t formed yet, we are not soliciting for investors yet. If you want more inf…
What is the definition of over priced? Are you talking about some actual index here or just thinking in non-quantifiable terms?
Overpriced would mean in comparison to the price of another identical good at the same point in time, but since that is hard to find in real estate, I've always interpreted it to mean that the return on investment will be lower over a certain period of time for an overpriced property compared to another, either in dollar amounts and/or quality of life terms in case you're living in it.
Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#26Earlier quoted context omitted.
There is plenty of cheap property; it is debatable whether any of it is "good."
This is the essence of land in the Midwest. You do get what you pay for, there's no magic to it.
Equating a blighted Detroit to the entire midwest is a bit asinine. Finding no magic outside a coastal bubble might be indicitave of a deeper sentiment you are not airing.
Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#27Downtown Detroit is kind of starting to seem like a Potemkin village. A lot of these “comeback” articles focus primarily on the development in a tiny portion of the city that honestly never declined that much to begin with, in comparison to everything else. Crime and poverty are still insanely high. The school system is a tragic disaster. The majority of the urban area is still abandoned and blighted. It’s really not…
Economic writing in narrative form is easily misleading and void of relevant information. Numbers are just sprinkled around to support the story, not to give accurate picture.
Even bad economies reach equilibrium. Declining economy can decline too fast and rebound. It seems that Detroit's population is still in decline. Decline has just slowed down. How much of it is from economic cycle is unknown.
Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#28Earlier quoted context omitted.
There is plenty of cheap property; it is debatable whether any of it is "good."
This is the essence of land in the Midwest. You do get what you pay for, there's no magic to it.
I think you read something into my comment that I did not intend. My comment was specifically about the rundown properties in Detroit that can be had for a song. They are in such a state, however, that you would have to put in tens of thousands of dollars, at least, to make them livable.
Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#29Downtown Detroit is kind of starting to seem like a Potemkin village. A lot of these “comeback” articles focus primarily on the development in a tiny portion of the city that honestly never declined that much to begin with, in comparison to everything else. Crime and poverty are still insanely high. The school system is a tragic disaster. The majority of the urban area is still abandoned and blighted. It’s really not…
I work downtown but live in the burbs. I totally agree. Its a strange feeling when the entire business district (which is what is seen as evidence of the "comeback") feels just like a giant Quicken campus. I see far more private security than police.
Re: Detroit's Big Comeback: Out of Bankruptcy, a Rebirth
#30Downtown Detroit is kind of starting to seem like a Potemkin village. A lot of these “comeback” articles focus primarily on the development in a tiny portion of the city that honestly never declined that much to begin with, in comparison to everything else. Crime and poverty are still insanely high. The school system is a tragic disaster. The majority of the urban area is still abandoned and blighted. It’s really not…
Economic writing in narrative form is easily misleading and void of relevant information. Numbers are just sprinkled around to support the story, not to give accurate picture. Even bad economies reach equilibrium. Declining economy can decline too fast and rebound. It seems that Detroit's population is still in decline. Decline has just slowed down. How much of it is from economic cycle is unknown.
> Even bad economies reach equilibrium
Venezuela is not there yet.