Is Detroit fixable? How would you fix it? (user search)
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  Is Detroit fixable? How would you fix it? (search mode)
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Author Topic: Is Detroit fixable? How would you fix it?  (Read 19093 times)
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« on: November 17, 2011, 10:24:24 PM »

I think the best idea is to create Urban parks out of the low density neighborhoods, and once you take out the bad parts hope that the land will be in demand again 20 or 30 years.

The whole 'city' is 'bad parts'. And it will never be in demand again because it is an urban wasteland.

I'm curious.  Have you actually ever spent a substantial amount of time in Detroit?  I haven't but a lot of people I know who have lived there like the place.  I've interrogated them about it several times because my assumption was it was a bombed out wasteland of little worth.  They tell me its actually pretty cool and they would move back there.  These people were all professionals with graduate degrees.  They were white and black.  I dunno.  I just don't think that place is the 100% write off we've been led to believe.
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Link
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Posts: 3,426
« Reply #1 on: November 23, 2011, 10:32:54 AM »


Again.  When I've actually spoken to people that have lived in Detriot regardless of race they like the place.  Granted those people were all highly educated so I don't know what the poors think.  I would be much more intrested in people explaining to me why so many people like the place vs just repeating an uninformed stereotype.

Hell if there were large sell offs of property at around $100 a piece I would be looking at buying quite a bit. The future intrinsic value of this land is worth much more than that and if it takes 20 years to realize a 80+ multiple on my investment then so be it. The return would be worth the wait.



Houses have been selling for $100 a pop in Detriot for years.  The market resembles the pink sheets.  Plenty of low price trades but no real bargains.

I'm sure there are people who'd take a house in Detroit... people currently renting in Detroit and not looking to leave the city. Provided the costs down the line - municipal taxes, minimum repairs to keep the house from falling down - don't exceed their rent.
As, in Detroit, they probably will.

That's the real problem. 
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