Warning or opportunity for Detroit?

[Stravo]

So many have used Detroit as the example of disaster. I see it entirely differently. Detroit is a precious opportunity for a new, people-based arcology that supplies all the needs & expressions of our gregarious species. We-the-peeps must grasp that opportunity before the window closes-- again.

Please, if you're here to pitch failed, old paradigms or just to criticize w/o any suggestions, go elsewhere. I'm looking for out of the box thinkers. Like old Henry himself.

[SammyS]

I think about that all the time. Either;

1. Detroit is the prototype for impending disaster for just about every large city globally, or

2. it is out of line and long overdue for realignment.

My bets are on 2.

Think NYC of 70/80’s, Southbeach of late 80’s or even Turin of late 90’s

[Zacha341]

Welcome to Detroityes Stravo!

[Johnnny5]

Detroit is both. Unfortunately, just like the Great Recession it's the masses that had to bear the brunt of the long downturn and the fortunate few reaping the benefits in its recovery.

[Stravo]

I wrote to the Ford family asking them to help. I also asked what they had in mind for Detroit. True to elitist form, they ignored me. It's going to take the peons to raise the same Detroit the big dogs razed.

[K-slice]

Detroit is both. Unfortunately, just like the Great Recession it's the masses that had to bear the brunt of the long downturn and the fortunate few reaping the benefits in its recovery.

Fortunate few? My company recently picked up multiple properties in the city that are undergoing extensive renovation. This has provided me a new position wherein I can live and work in the city. We are hiring for more people to work in the city full time with great benefits, not to mention all the contractors that are being put to work in these projects.

There is unlimited opportunity right now for those who want to work and make something for themselves. I feel that this gets too often overshadowed though by Gilbert's newest acquisition, or Ilitch bulldozing more historic buildings.

[Johnnny5]

Fortunate few? My company recently picked up multiple properties in the city that are undergoing extensive renovation. This has provided me a new position wherein I can live and work in the city. We are hiring for more people to work in the city full time with great benefits, not to mention all the contractors that are being put to work in these projects.

There is unlimited opportunity right now for those who want to work and make something for themselves. I feel that this gets too often overshadowed though by Gilbert's newest acquisition, or Ilitch bulldozing more historic buildings.

You and the company you own/work for are among fortunate few. The million plus former residents some of which lost everything as the city basically crumbled around them is the warning.

That's why I stated Detroit is both.

[Stravo]

K-slice, exactly! I'm glad you saw the opportunity in catastrophe. Now, how can you evolve past the status quo & bring your business into a more low-impact, environmentally friendly/constructive, & sustainable future? Old paradigms are falling continually. The people are demanding something different, more egalitarian & less skewed financially. Of course, that's been going on since the birth of the U.S.

[Stravo]

Thank you, Zacha! Is that short for Zachariah? My Mum loved that name & variants of it.

[ASilvaman]

Is there a question being asked? I'm confused by this post.

[Stravo]

Is Detroit a warning or opportunity, A?

[SammyS]

I wrote to the Ford family asking them to help. I also asked what they had in mind for Detroit. True to elitist form, they ignored me. It's going to take the peons to raise the same Detroit the big dogs razed.

Elitists, peons? I would not have answered you either if your sentiment remotely reflected anything close to your word selections. Additionally, Ford has no obligation to provide play by play progress reports.

[Stravo]

Sammy, stop making assumptions. The Strawman argument is a cheapshot. I know how to write a friendly note. I also feel disgust when the recipient isn't professional enough even to acknowledge receipt. And no, the Fords are not obligated legally to help Detroit. The Patriarchal Henry was both a blessing & curse to the city. Legally, if I were an Olympic swimmer & I see a 12 year old girl drowning in a shallow pond, I don't have to save her.
I strongly urge you to read this masterpiece: The Flivver King. I couldn't put it down. https://www.amazon.com/Flivver-King-...40_&dpSrc=srch
Enjoy!

[SammyS]

Detroit is both. Unfortunately, just like the Great Recession it's the masses that had to bear the brunt of the long downturn and the fortunate few reaping the benefits in its recovery.

By long downturn you mean 70 years? There is no excuse for blaming any one group for events that occured over such a long period of time.

The “fortunate few” are actually many. I hope I’m one. Sure there are many more on this forum who stuck thier neck out and put skin in the game at the right time. Collectively, I would not doubt there are by multiples more money poured into Detroit than all the institution and city money combined. Works that way in the stock and bond markets.

PS. Have you ever thought that maybe every prior attempt at revitalizing Detroit was hindered by someone’s failing Social Justice agenda?

https://youtu.be/cnwxUhB9w_M

The problem is not the free market but instead when individuals vote for governments that steal from the productive class to pay for the non productive class. Socialism is and always has been a failure. If there’s a middle ground, then the market needs to find it, not have it forced upon it.

[Johnnny5]

By long downturn you mean 70 years? There is no excuse for blaming any one group for events that occured over such a long period of time.

The “fortunate few” are actually many. I hope I’m one.

That's exactly what I mean and I didn't blame anyone. While it may seem like they are many, when you compare it to the number that lost [[And are still in the red) it's far closer to "few" than many.

[Jason]

By long downturn you mean 70 years? There is no excuse for blaming any one group for events that occured over such a long period of time.

The “fortunate few” are actually many. I hope I’m one. Sure there are many more on this forum who stuck thier neck out and put skin in the game at the right time. Collectively, I would not doubt there are by multiples more money poured into Detroit than all the institution and city money combined. Works that way in the stock and bond markets.

PS. Have you ever thought that maybe every prior attempt at revitalizing Detroit was hindered by someone’s failing Social Justice agenda?

https://youtu.be/cnwxUhB9w_M

The problem is not the free market but instead when individuals vote for governments that steal from the productive class to pay for the non productive class. Socialism is and always has been a failure. If there’s a middle ground, then the market needs to find it, not have it forced upon it.

Amazing, all you have to do to escape poverty is pay more for your food, housing, and medical care, and once you do that you'll have hundreds of thousands of dollars to invest in real estate.

[Stravo]

Wow, that's a sweet attitude of hopefulness & encouragement, Sammy. How about you stop making laws, regs, & codes making it impossible for the little guy to make a living. By you, I mean likeminded folks, you all.

[SammyS]

Wow, that's a sweet attitude of hopefulness & encouragement, Sammy. How about you stop making laws, regs, & codes making it impossible for the little guy to make a living. By you, I mean likeminded folks, you all.

I can agree with that. So your problem is with city bureaucracy, right?

[SammyS]

Fortunate few? My company recently picked up multiple properties in the city that are undergoing extensive renovation. This has provided me a new position wherein I can live and work in the city. We are hiring for more people to work in the city full time with great benefits, not to mention all the contractors that are being put to work in these projects.

There is unlimited opportunity right now for those who want to work and make something for themselves. I feel that this gets too often overshadowed though by Gilbert's newest acquisition, or Ilitch bulldozing more historic buildings.

You beat me to it

[SammyS]

That's exactly what I mean and I didn't blame anyone. While it may seem like they are many, when you compare it to the number that lost [[And are still in the red) it's far closer to "few" than many.

Like everyone else, I lost 50% of my homes value in the suburbs only to see it back 6 years later. Detroit actually recovered quicker. For those left behind, you must ask:

1. Are they victims of targeted discrimination?
2. Are they prone to making bad financial decisions?
3. Are they kept perpetually poor by a welfare system that buys their vote?

The answer lies between 2 and 3 since discrimination has been outlawed for >40 years. If you don’t believe me, sue the bank. You’ll WIN!

Many studies have been conducted to address this issue. Here are the footnotes.

98% of individuals get out of poverty if they do the following:

1. Get a high school education
2. Get a job
3. Don’t have kids out of wedlock [[this is how welfare works against society)

[Johnnny5]

Like everyone else, I lost 50% of my homes value in the suburbs only to see it back 6 years later.

Detroit actually recovered quicker.

It most certainly did not. Again, you're confusing the gains of the few with those of the many. Yes, downtown, Corktown, Midtown and a few other areas are thriving and values have hit record highs. The rest of the city? Not so much.

https://www.wxyz.com/news/average-ho...me-in-17-years

[SammyS]

It most certainly did not. Again, you're confusing the gains of the few with those of the many. Yes, downtown, Corktown, Midtown and a few other areas are thriving and values have hit record highs. The rest of the city? Not so much.

https://www.wxyz.com/news/average-ho...me-in-17-years

More than just those prime areas and that was from 3 years ago. Since then, prices have gone up at least another 50%

https://www.freep.com/story/money/re...sing/29169949/

[Johnnny5]

My apologies for the old link. Even using current Zillow estimates you can see we're still far below the values from 2008 and before. In other words, for most unless one has purchased a home Detroit in the last 10 years, or has owned for a very long time. The price paid is still likely to be well above the current value.

https://www.zillow.com/detroit-mi/home-values/

[Lombaowski]

More than just those prime areas and that was from 3 years ago. Since then, prices have gone up at least another 50%

https://www.freep.com/story/money/re...sing/29169949/

I'm from 48228. I'm really glad you think the housing market is booming there because median prices have quadrupled from their lows of $7k, to $30k now. That's not even what a good shed costs where I live now.

OOOOOOOOOOOF

[SammyS]

I'm from 48228. I'm really glad you think the housing market is booming there because median prices have quadrupled from their lows of $7k, to $30k now. That's not even what a good shed costs where I live now.

OOOOOOOOOOOF

So. A single car garage in NYC goes for $150k. A profit is a profit and those reaping the reward should be encouraged, not embarrassed.