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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.
ElenaMo313
@
2013 Jan 21, 1:18am
Make your own conclusion, but I still believe that Detroit is a good investment and won't back down from that.
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.
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I have been lurking Patrick.net for quite some time, but felt compelled to actually join and post since coming across several articles about investing in Detroit housing.
There were a few good nuggets of advice, like telling people to really spend time in the areas they are interested in investing in. Personally, I am thinking of using Metro Property Group (http://mymetroproperty.com) to help me find a decent house in a decent neighborhood. And there are lots of services and realtors out there that can help you transition.
But to tell someone, whether from out of town, state or the country, not to invest in Detroit because of sensationalized news or “second-hand information” is ridiculous. There are many areas within the city where you can buy cheaply in clean, safe, tight-knit neighborhoods. I personally like the following:
West Village
Midtown (Cass Corridor and near the New Center Area)
Rosedale Park
Grandmont (very tight neighbors--I even know of a European couple who recently moved into the area and feel welcomed…they're even new to the country, so they didn't know what to expect)
Corktown (Bagley)
These areas may still be deemed “up-and-coming” but are pretty well established with active neighborhood block clubs. And most often, neighborhoods around these areas get better as well, once development rolls in. Many of the areas I named are clean, quiet and safe--just do your research (outside of sensationalized media outlets, of course).
What are your thoughts?
#housing