How many "yuppies" have actually moved to Detroit the past couple of years?

**motz** · July-01-14, 11:41 AM

Originally Posted by Bham1982

If you believe that there really is some great demand for housing downtown, why hasn't a single building been built or renovated absent significant subsidies?

That's all the proof I need. Not a damn thing gets built without taxpayer dollars. There just isn't sufficient demand right now.

And you should call up the big downtown property owners, because strangely they have lots of advertised vacancies. Lafayettte Park has highrise doorman rentals available from $575, which is extremely affordable and not remotely indicative of some huge shortage of living space.

In a thriving city a downtown highrise doorman building will have rents starting at 3k a month or higher not $575. In a thriving city you don't have taxpayer subsidized buildings like Book-Cadillac that haven't sold out after nearly 10 years of marketing and price cuts.

I was specifically referring to the Midtown area and the current housing crunch that seems to be taking place. If you notice, there are a fair amount of projects getting pushed through in Midtown that include residential options, and for good reason.

**Bham1982** · July-01-14, 11:44 AM

Originally Posted by motz

I was specifically referring to the Midtown area and the current housing crunch that seems to be taking place. If you notice, there are a fair amount of projects getting pushed through in Midtown that include residential options, and for good reason.

There are a fair number of taxpayer-funded residential conversions, yes, ahd the activity is certainly positive. This doesn't seem to be indicative of some sort of claimed apartment shortage, though.

**motz** · July-01-14, 12:22 PM

Originally Posted by Bham1982

There are a fair number of taxpayer-funded residential conversions, yes, ahd the activity is certainly positive. This doesn't seem to be indicative of some sort of claimed apartment shortage, though.

In late July/early August, go find a decent 1BR in Midtown. There is a shortage in Midtown pretty much year round, but it's especially bad at the beginning of spring and the end of summer. The struggle is real, Bham1982.

**313WX** · July-01-14, 12:50 PM

Originally Posted by motz

In late July/early August, go find a decent 1BR in Midtown. There is a shortage in Midtown pretty much year round, but it's especially bad at the beginning of spring and the end of summer. The struggle is real, Bham1982.

Well see, "decent" is the operative word here.

There may very well be a shortage of desirable housing in downtown/midtown.

Meanwhile, Bham1982 is saying there's plenty of undesirable housing available, thus I'm assuming the basis of his argument about downtown/midtown NOT experiencing a housing shortage at this time.

**Bham1982** · July-01-14, 12:56 PM

Originally Posted by 313WX

Well see, "decent" is the operative word here.

There may very well be a shortage of desirable housing in downtown/midtown.

Meanwhile, Bham1982 is saying there's plenty of undesirable housing available, thus I'm assuming the basis of his argument about downtown/midtown NOT experiencing a housing shortage at this time.

If there were a housing shortage, then there wouldn't be such a thing as "undesirable" housing. Obviously the less nice housing is filled in markets when there's a housing shortage, because obviously people have no other choice but to rent the less-than-ideal housing.

**313WX** · July-01-14, 01:04 PM

Originally Posted by Bham1982

If there were a housing shortage, then there wouldn't be such a thing as "undesirable" housing. Obviously the less nice housing is filled in markets when there's a housing shortage, because obviously people have no other choice but to rent the less-than-ideal housing.

Well, the bolded depends on:

1. Who's keeping a tally on the availability of housing. People can cook stats to their liking.

2. The demographic that's looking for housing. Given that's downtown/midtown's "boom" is still in its infancy, the people who are looking for housing don't desire to live in downtown/midtown enough to settle for less than ideal housing just yet.

**Bham1982** · July-01-14, 02:01 PM

Originally Posted by 313WX

Well, the bolded depends on:

1. Who's keeping a tally on the availability of housing. People can cook stats to their liking.

2. The demographic that's looking for housing. Given that's downtown/midtown's "boom" is still in its infancy, the people who are looking for housing don't desire to live in downtown/midtown enough to settle for less than ideal housing just yet.

Well ok. If that's all true, then there's no housing shortage, and no reason to subsidize any more housing, since the existing stock has yet to be fully utilized.

**maverick1** · July-01-14, 06:18 PM

Originally Posted by 313WX

Well, the bolded depends on:

1. Who's keeping a tally on the availability of housing. People can cook stats to their liking.

2. The demographic that's looking for housing. Given that's downtown/midtown's "boom" is still in its infancy, the people who are looking for housing don't desire to live in downtown/midtown enough to settle for less than ideal housing just yet.

IMHO the bolded is one of the key signs that things have really turned around. When people are willing to settle for less than ideal housing or people are flocking to the inner ring suburbs to be close to Downtown and Midtown as possible w/o having to pay the price for the limited space and cost of actually living in those areas.