Report: 10 Detroit neighborhoods saw biggest increases in home sales, prices

Report: 10 Detroit neighborhoods saw biggest increases in home sales, prices

Quote:

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The report from Detroit Future City, released Tuesday, involved an in-depth analysis of Wayne County deed recordings related to home sale transactions from 2012-13 to 2020-21. That approach captured more sales than what are found in data sets commonly used by Realtors and popular real estate websites, which contain fewer transactions and are skewed toward higher-value sales. The report's findings underscore earlier observations that a broad rebound in housing prices across metro Detroit since the Great Recession has also been felt in many city neighborhoods — even those where houses once sold for $10,000 or less.

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https://www.freep.com/story/money/bu...y/70338992007/

Try using 2012-13 and 2022-23 as a comparison, considering the city was on lock down and the citizens on house arrest the taxpayer paid for report comes to the conclusion that real estate was a dead duck in that time frame of 2020-2021 ?

Who would have ever thought.

“Our goal is a more equitable and sustainable city that works for all.”

If that was the goal,what was the motive in coming to that conclusion?

This is what happens when you legalize weed,because who ever published that report was clearly high on something.

American Indian and Alaska Native homeownership rate: 58.0%

Asian homeownership rate: 65.2%

Hispanic homeownership rate: 58.6%

Black homeownership rate: 43.4%

There is a 2% difference between white and black with those living in poverty in Detroit.

Poverty rate for Hispanics in Detroit is 31.4 % while 30.5% for African Americans.

It is repeated for every minority in the city,as all of the other minorities have a higher rate of poverty,but also a higher rate of home ownership then African Americans in the city.

https://www.city-data.com/poverty/po...202%2B%20races

When you are spending hundreds of millions subsidizing housing verses training and better employment options,why would one expect an outcome to be any different then what it is.

It has nothing to do with equitable housing options for those making less then medium income levels,it should be about investing in people and then let the free market work,but that is really not the objective is it.

The more people you have below the poverty line,the more money the city gets from the federal government to subsidize them and it is easier to raise taxes based on it is a just cause,you make money on the poor and not the rich and the city and those involved in helping the disadvantaged are not going to give up that gravy train because they do not make any money once the disadvantaged becomes self supporting.

All of this equitable stuff translates into making everybody equally broke.

Its Detroit an American city,it might be more prudent to stop trying to be like Cuba or North Korea and invest in people instead of useing them as tools in a means to an end while falsely claiming to be looking out for their best interests.