Trying to find good news in Detroit has been up and down lately. The city of Detroit is basically bankrupt and any day now the governor could appoint an emergency manager to take over management of the city. On a bright side US auto sales are up, way up pushing 13 million annually. It now appears that there may be some hope n the housing market. According to Bespoke Detroit is one of only two cities including DC to post year over year gains in housing prices.
Speaking from personal experience trying to find a house in the metro Detroit market is tough. When I tell people that I usually get a look of are you out of your mind. However trying to find a house that is in a good neighbor, good schools, a decent commute, and a reasonable price was hard. The reason....supply and demand. There is and was simply a low level of quality homes in and around the median price range. If you didn't care about any of the 4 factors I mentioned above there is abundant of sub par houses in rough neighborhoods that you wouldn't feel comfortable living in.
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