patrick.net

unstoppable says

ElenaMo313 says

unstoppable says

I also have read enough about Hmong history and the history of the US military's involvement in southeast Asia, to confidently refute your previous blanket statement.

While reading is fundamental, it often doesn't tell the whole story. You cannot base your facts just off of what you read.

Wow

Really you're going to quote me but cut out the first sentence where I mentioned that I grew up with a whole bunch of Hmong kids.

When you're done shilling for your crap investment scheme I'm sure you'll be qualified to work at the out of context quote department, at either msnbc or fox.

I'm done with you. I actually agree with many posters in this thread that Detroit has its share of problems. But any positive press about Detroit is immediately a "scheme" or "scam"--no wonder this city can't come back. And the thing that irritates me most is that most of you posters live nowhere near Detroit. I don't care if you lived here 20 years or even 2 years ago, you're not here today.

ElenaMo313 says

Depends on what you plan to do with them. Most people purchase property that is not in their price range, or they do not research the neighborhood and demographics first. These factors can make any good investment in property go sour.

Housing in general is not the best investment you can make. All anyone has to do is look up basic performance and returns comparing real estate to stocks. Over the past 100 years stocks have returned around 7-8% per year and real estate 3-4%. Simple.

edvard2 says

ElenaMo313 says

Depends on what you plan to do with them. Most people purchase property that is not in their price range, or they do not research the neighborhood and demographics first. These factors can make any good investment in property go sour.

Housing in general is not the best investment you can make. All anyone has to do is look up basic performance and returns comparing real estate to stocks. Over the past 100 years stocks have returned around 7-8% per year and real estate 3-4%. Simple.

True, and the housing market in general is volatile. I know that there is a demand for quality, affordable housing in Detroit, at least where I am. If you know where to buy, it can turn a good profit for you. But many people are buying without doing their research or knowing what it takes to be a good landlord in Detroit. It's not easy, and it's usually best to consult with a reputable company in the beginning.

Issues of crime aside, I would have a problem buying a house in Detroit because the houses themselves would be so high maintenance. Detroit went through two huge house building eras - the twenties and the fifties. The houses built in the twenties are the tightly packed, multi-story red brick houses that are now tilting and buckling from their own weight - these neighborhoods stretch out for miles from the city center. Most of these neighborhoods are filled with poor people because only poor people would buy them. The houses built in the fifties are the small ranch style homes built for the troops returning from WWII - these homes were, for the most part, not well built, and are now falling apart (although, to be fair, they were probably built better than most of the McMansions of the last decade). There are some very nice neighborhoods with beautiful houses that deserve to be saved, and I think they will survive any massive urban "renewal" plan that will be necessary to rid the city of the crumbling hulks and burned out shells that bring the entire city down.

I've thought about buying properties in Detroit. Even discussed with a buddy of mine who was from Grosse Pointe. We both decided no thanks. Spent 4 years of my life in school in Ann Arbor and went into D Town for Wings and Tigers games, Coney Island, and Windsor. Ann Arbor is a great town, but has some of the most gloomy and depressing weather anywhere. I enjoyed Minneapolis 10x Michigan. No one wants to relocate to a place with bad weather and even worse job prospects. While I enjoyed college, and love the school, Detroit is last on my list of places I would relocate. Sorry...

Waitingtobuy says

I've thought about buying properties in Detroit. Even discussed with a buddy of mine who was from Grosse Pointe. We both decided no thanks. Spent 4 years of my life in school in Ann Arbor and went into D Town for Wings and Tigers games, Coney Island, and Windsor. Ann Arbor is a great town, but has some of the most gloomy and depressing weather anywhere. I enjoyed Minneapolis 10x Michigan. No one wants to relocate to a place with bad weather and even worse job prospects. While I enjoyed college, and love the school, Detroit is last on my list of places I would relocate. Sorry...

This is a joke, right? With temperatures in Minnesota regularly in the single digits? And the car companies on a hiring spree? Detroit is no different from Chicago, Los Angeles, New York, and any other city with a bad part of town - people who can afford it live in the suburbs, and as suburbs go, Detroit's are better than most.

Joe_Mumau says

Detroit is no different from Chicago, Los Angeles, New York, and any other city with a bad part of town - people who can afford it live in the suburbs, and as suburbs go, Detroit's are better than most.

Detroit is very different from those other cities, because the bad part of Detroit is Detroit.

Sure, there are nice, leafy green safe suburbs outside of Detroit proper. But the city itself is pretty much dead.

ElenaMo313 says

And um, the "scary" people here are often misguided youth who if they had jobs, would not be pulling these stupid stunts.

It was a 64 year old man who pulled that scary stunt. I would hate to see what the "misguided youth" are up to.

http://www.huffingtonpost.com/2012/11/12/police-station-shooting-southfield-michigan-shootout_n_2116162.html

ElenaMo313 says

But any positive press about Detroit is immediately a "scheme" or "scam"--no wonder this city can't come back.

It is not so much Detroit as it is a poster who titles their thread, "Investing Wisely in Detroit No Matter Where You're From."

When you start off with such a blatantly too good to be true blatant shill statement almost anything that comes out of your mouth next is going to sound like a scheme or scam.

I spent a fair bit of time around the Detroit area for work, and never in my life have I seen so many bowling alleys and liquor stores. Horrid roads and dead cars everywhere. Only been to downtown a few times and it was mostly a boarded up ghost town.

Have to get out to at least Farmington, or preferably Ann Arbor before it got 'livable'.

gbenson says

I spent a fair bit of time around the Detroit area for work, and never in my life have I seen so many bowling alleys and liquor stores. Horrid roads and dead cars everywhere. Only been to downtown a few times and it was mostly a boarded up ghost town.

Have to get out to at least Farmington, or preferably Ann Arbor before it got 'livable'.

I am sorry to break this to you buddy but all the suburbs the surround Detroit's borders are MORE than "livable", by your standard. Actually some of them are way nicer and pricier than Farmington or Ann Arbor. Gross Pointe Shores (where houses reach $6 Million) , Gross Pointe Woods, Ferndale, Oak Park, Warren, Royal Oak (a very expensive suburb) Southfield, Redford, Dearborn Heights, Dearborn.. All great areas to stay in that are extremely safe, I live in those suburbs and I don't even lock my door at night. Additionally, I spend my weekends in Detroit, 3 major Casino's, Greektown, Midtown, Wayne State University, where 18 year old girls walk around (including my sister, who comes home safe and sound everyday). I agree that there are some dangerous areas in particular, but you can't say the whole city is scum.

Going to have to agree somewhat with sirmajdalot. When I took a trip to Detroit, indeed the city itself is probably the biggest ghost town on the planet. What's really clear is that all the money left decades ago to the burbs. I actually traveled to the burbs and some of the areas are actually fairly well-off. The areas outside of Detroit are actually quite pretty. In fact I recall reading somewhere that some of the suburban areas outside of Detroit are home to some of the richest people in the country. That said, I spent my fair share in the Northeast dealing with winter and for me- no thanks. I didn't enjoy freezing my ass off for 4-5 months out of the year.

Make your own conclusion, but I still believe that Detroit is a good investment and won't back down from that.

leo707 says

ElenaMo313 says

But any positive press about Detroit is immediately a "scheme" or "scam"--no wonder this city can't come back.

It is not so much Detroit as it is a poster who titles their thread, "Investing Wisely in Detroit No Matter Where You're From."

When you start off with such a blatantly too good to be true blatant shill statement almost anything that comes out of your mouth next is going to sound like a scheme or scam.