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/biz/ - Business & Finance

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File: 1.04 MB, 773x515, detroit.png [View same] [iqdb] [saucenao] [google]
52722271 No.52722271 [Reply] [Original]

Detroit became a shithole after the riots in the 60s and all of the manufacturing jobs left. However, over the last several years:
>crime is lowering in a consistent trend
>people moving back into the city as jobs become available
>good median wages in the area with lots of available trade work, the local economy is reviving
>Properties are all very affordable, even to someone making less than $30k

Is Detroit a possible good investment at this point? It seems like the city could have an actual reversal within 15-20 years and become a normal, liveable place again.

>> No.52722296
File: 1.91 MB, 1248x971, detroit house 1.png [View same] [iqdb] [saucenao] [google]
52722296

>>52722271
Most residential homes are brick construction and within reasonable purchase prices

>> No.52722341
File: 1.79 MB, 1249x964, detroit house 2.png [View same] [iqdb] [saucenao] [google]
52722341

>>52722296
These houses are huge for the price

>> No.52722814

>>52722271
>>52722296
>>52722341
These places might be alright for getting on the property ladder but not a whole lot more. If you have a 5 bed house but its in a "culturally enriched" area its still going to be that way in 30 years time. It's not going to suddenly stop being Detroit.

>> No.52722932
File: 400 KB, 913x585, 1670102637111.jpg [View same] [iqdb] [saucenao] [google]
52722932

>>52722271
>JUST A CITY BOY
>BORN AND RAISED IN SOUTH DETROIT

>> No.52722984

Black people are terrific, anon. Go for it.

>> No.52723021

>>52722271
consider that even multi billion dollar jewish corporations (that can socialize their losses by begging for bailout gibs) avoid detroit because it's too risky or unprofitable.

>> No.52723053
File: 64 KB, 640x640, 1637242172067.jpg [View same] [iqdb] [saucenao] [google]
52723053

>>52722814
>>52722932
>>52722984
>>52723021
Sounds like the competition is low. I'm becoming increasingly convinced I ought to move my business there and dump 3m into properties and become a small lord of michigan.

>> No.52723069

>>52723053
So far the largest downside I've found (aside from risk) are the taxes. Property taxes sit at 3% in Detroit because the city is in $18B debt with only few and poor people to tax.