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

[jhnbonham]

So you're a developer and you want financing for a building. You tell the finance guys "trust me, it's booming there" and that gets you $50M in financing? Are you all really that naive?

So you're a developer and want financing for a building. You tell the finance guys the rental rate in this area is $X.XX/sq ft with an occupancy rate of XX%. The cost of building this project is expected to be $XXX,XXX, with XX units ranging from XXX-X,XXX sq ft, etc etc. You have pages and pages of documentation to support this having spent X amount of money in planning and preparation. Are you really that naive?

Or are you upset that none of the posters on this forum are developers in the area which have spent their time and money to prepare this for you?