Indeed it is but 20 years from now you will not recognize Detroit based on its current state.
Properties surrounding the downtown area have been snatched up by investors and the trend is expanding outwards with all the abandoned lots up for sale and the city's effort to tear down all the abandoned houses.
There is definitely a transformation going on that folks here don't understand or recognize since they've never been in downtown Detroit.........thus their constant ridicule.
If I were young and had the means, I'd start buying the vacant lots further out and wait until they come in demand..............which they eventually will.
There has to be a political transformation first.
There are hidden traps, as we’ve seen in Flint. Infrastructure problems galore. That’s the first thing cut in the nanny states. Let those bridges and roadways age, gotta keep paying the riff raff off.
I’m sure with Detroit gentrification will come some form of fiscal conservatives resentful of democrats, but I think you over estimate the value. As so long as a good % of the population is living in free housing, food stamps, welfare and whatever other program is available, it will be difficult to see a decent return in a modest period of time.
The small things will grind you down. The crime, the insurance, the city bonds and taxes, the regulations or perhaps your investment falls within an imminent domain claim.
We really need to trade Michigan to Canada for more pacific coast property. Just being silly.
“Indeed it is, but 20 years from now you will not recognize Detroit based on its current state.”
Detroit is already unrecognizable to anyone who has lived there or visited there in the past sixty years. It looks like a war zone. It’s like Hiroshima the day after the atomic bomb was dropped. I hear people make your claim frequently, but when pressed to validate how they make the claim and on what evidence it is based, all I hear is that a few blocks in the downtown corridor are being leveled and rebuilt. But how such minimal improvement will help the vastness that is the outlying neighborhoods in greater Detroit is never addressed in these pipe dreams.
“Properties surrounding the downtown area have been snatched up by investors and the trend is expanding outwards with all the abandoned lots up for sale and the city’s effort to tear down all the abandoned houses.”
This claim, too, is ridiculous on its face. People are buying decrepit properties for pennies on the dollar in defaulted tax sales and business bankruptcies. The abandoned lots are in mile after mile after mile of totally destroyed neighborhoods that will never be worth a plug nickel. How do you re-develop a property that has a burned out hulk on its site with a crumbling concrete basement atop buried sewer and gas pipes with overhead electrical lines falling down on the debris? People who claim that the property should be bought for any coming future development are absolutely delusional.
“There is definitely a transformation going on that folks here don’t understand or recognize since they’ve never been in downtown Detroit...thus their constant ridicule.”
Well, I’ve been to downtown Detroit and I can assure you that I see very little in the way of serious development outside of the entertainment district which consists of nothing but sports stadiums and liquor bars. Such government-subsidized monopolies deliver nothing to anyone of lasting value that a community can use as a growth anchor for viable and sustainable neighborhoods.
“If I were young and had the means, I’d start buying the vacant lots further out and wait until they come in demand...which they eventually will.”
You, sir, are completely delusional and will, no doubt, be made utterly bankrupt by your pie-in-the-sky notions, should you foolishly follow through on your idiocy. The government of Detroit and their crony capitalist shills have been touting Detroit as the “Renaissance City” ever since Hizzoner, Coleman Young, was elected Mayor in 1974 and began to preside over the relentless forty year collapse that has resulted in the jaw-dropping images we see of Detroit that has made it the dysfunctional laughingstock of the entire world.
“If I were young and had the means, I’d start buying the vacant lots further out and wait until they come in demand..............which they eventually will.”
They will never be in demand as long as there is an Afro-gypsy population there awaiting funding; they tried this in Asbury Park NJ (hoping to attract wealthy queers) but when the queers realized there would be no mass expulsion of blacks they lost interest. They were to be bled dry paying for all of the blacks’ “services”...