This is spot on, in my opinion. Those that disagree don't really know.Owning a home in Detroit is default "generational wealth"? Who's really detached from reality?
I'm obviously not talking about the minority of homes in the city in very stable neighborhoods with recognizable names. I'm talking about the run down bungalows, the pre-war vernacular with tarps nailed to the roof, the duplex with only one occupieable space, and so on.
These homes, many owned outright for years, don't represent wealth to their owners due to the condition and location of the house. Drive through the far east side neighborhoods, or any number of blocks scattered thrghout the city and you'll see the same situation.
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