Originally Posted by
Roxy
I started this thread approximately a month before the shutdown. Does anyone have predictions for how 2020 has affected real estate in the Detroit area or if their opinions have changed since February? Perhaps the pandemic will set back Detroit's progress, making real estate in certain markets a better investment than other areas. My guess is that long term, people who can now work from home will want to move further away from the city to towns like Oakland Township, Leonard, Lake Orion, Shelby Township, and Romeo. Several well-to-do suburbs close to the city, like the Grosse Pointes, will see real estate prices remain stagnant with only small increases during the pandemic's real estate boom. There will be foreclosures once the moratoriums end in late 2021 to 2022, and we will see inner ring suburbs with mid-range housing prices mostly affected by any foreclosure crisis, further sending these suburbs into decline.