The Decline of Detroit: A Look at How Far We've Come

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Detroit, once a symbol of American prosperity, has faced significant decline over the years, with its population dropping from 1.8 million to around 900,000. The city suffers from rampant corruption, mismanagement of utilities, and a high crime rate, leading many to label it a "no-go city." Despite attempts to revitalize downtown, such as hosting events like the Super Bowl, the overall perception remains bleak, with many residents and visitors feeling unsafe. The de-industrialization of the U.S. is seen as a major factor in Detroit's struggles, compounded by a lack of public transportation and inadequate infrastructure. The discussion reflects a deep concern for the city's future and the ongoing challenges it faces.
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  • #32
hypatia said:
http://www.trulia.com/MI/Detroit,3840,Indian_Village/

Housing still varies depending what area of Detroit your looking to buy in.

http://www.trulia.com/MI/Detroit,3875,Rosedale_Park/
These online asking listings are very skewed now, my take. First, in this market asking prices are hugely disconnected from the selling price. People who paid large amounts are locked in and just sit there, asking for sums they can't get. See the selling tab:
http://www.trulia.com/MI/Detroit,3840,Indian_Village/#sold/3840_nh/. Second, the extremely depressed houses $5-$10k don't get posted - they're not worth the time for an agent.
 
  • #33
hypatia said:
http://www.trulia.com/MI/Detroit,3840,Indian_Village/

Housing still varies depending what area of Detroit your looking to buy in.

http://www.trulia.com/MI/Detroit,3875,Rosedale_Park/


You see those high prices because it's in Indian Village near the mayor's house. That's why they think they can command those kinds of prices but the actual sell prices are much lower.

It's the same in Oakland county. All those 4-500K houes are now going for >$75k, But no one's buying them.
 

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