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A good article on Detroit Real estate and whats going on now. Maybe this will provide some clarity to some metro and out of city members who dont understand what is actually happening around us here in some areas of Detroit. Enjoy
http://www.msn.com/en-ca/money/homea...oit/ar-BBoweBh
Very good article.
Detroit continues to build on its assets which are more than downtown, midtown, etc.
We are seeing a parallel to what has happened in commercial real estate where folks are finding great bargains in a turn around city.
Location, location, location... Strong neighborhoods are getting stronger.
The image of Detroit in the national press may be changing for the better. Retaining a population in the city will, however, depend upon the success of the Governor's efforts to reform the schools of the city, public or charter.
Erica MacKinnon and Bill Sneed have lived all over the world and spent a couple of years in a rented Los Angeles duplex considering whether to move to Miami or Seattle, Oakland or Portland, Maine. . . ."We spent three days in Detroit and we just fell in love with the city,”
Three whole days? . .this couple seems fairly young to have "lived all over the world" already. Sounds to me like they are fleeting transients who "fall in love" with wherever they live at the moment, which isn't exactly a stellar endorsement of the quality of life in Detroit--or anywhere else they've hung their hat for a few years.
This is probably not true. There are plenty of people without children, and those are the people Detroit needs to be able to retain. It would be great to be able to hold onto families with children, but I think Detroit is going to be an unusual selection for people with children and an ability to move elsewhere for the indefinite future, and I don't think those families are actually the near- to mid-term future of the city. Long-term, who knows.Quote:
Originally Posted by renf
Agreed. The public schools in most major cities suck, although DPS is probably the worst of all. That doesn't hurt the population that much as long as the other advantages of city life can counterbalance it.Quote:
Originally Posted by mwilbert
Good points however, violent crime is still the "elephant in the room"Quote:
Originally Posted by renf
I believe the point here is that, they chose after those days, to move to Detroit, and decided to materially invest in a home in Indian Village and appear to be delighted with their decision. Which, means their quality of life here is very good for them. Most people have pretty well decided whether they like where they live within a year or two. Their story is not unique by any measure, which shows Detroit is moving in the right direction, not perfect by any means, but far better than the alternative, and in that we continue to move forward.Quote:
Originally Posted by Onthe405
A different take away from that article is that the couple mentioned that they couldn't seem to get ahead in LA. I think people in Detroit often do not realize how expensive it is to live in many other parts of the country. Since they have the type of business that can be based anywhere, its nice to see that they chose Detroit. A small condo in LA or a mansion in Indian Village - quite a choice.Quote:
Originally Posted by Onthe405
Its not very long ago that projects such as this B-E rehab would not have been possible. Nice to see that it sold for close to asking. The same company is now working on 2509 Longfellow.
http://detroit.curbed.com/archives/2...dison.php#more
I'd agree that the two biggest factors limiting residential living across the age spectrum are crime and schools. It does not help, for example, that there isn't a quality private school downtown--I'd bet that would be pretty popular. Chicago, for example, has two VERY expensive private schools close to downtown [[Latin and Francis Parker). If I recall correctly, Latin was about as expensive as Harvard.
For those either before or after that age demographic, Detroit is filling out nicely as the premier urban option in the area. It's a beautiful thing to see.
I wonder why the old owners moved out?
Probably got behind on the high _ss property taxes. This is what's facing a lot of Detroit homeowners, when the bill comes due this year.Quote:
Originally Posted by Honky Tonk