Wouldn't now be an awesome time for anyone with any money to invest to buy a home in Detroit? I mean even if the city is a dump (as some of the comments on that blog suggest), it seems pretty reasonable to expect prices to reach 1998 levels within about five years.
Tripling your money in five years? I'm no economist, but that sounds pretty good to me.
Maybe there are complexities to the real estate market that I'm oblivious to that would make this riskier or less profitable than it looks on the surface, but still that chart just screams "Buy! Buy! Buy!"
That Detroit home price chart is jaw-dropping.
ReplyDeleteWouldn't now be an awesome time for anyone with any money to invest to buy a home in Detroit? I mean even if the city is a dump (as some of the comments on that blog suggest), it seems pretty reasonable to expect prices to reach 1998 levels within about five years.
Tripling your money in five years? I'm no economist, but that sounds pretty good to me.
Maybe there are complexities to the real estate market that I'm oblivious to that would make this riskier or less profitable than it looks on the surface, but still that chart just screams "Buy! Buy! Buy!"