Is the Detroit Housing Market Rebounding? Or is it in a Bubble?
Detroit real estate is attractive to buyers looking for a bargain, but how sustainable is the market?
The 2008 housing market crash still has ripple effects in Detroit seven years later. Many neighborhoods still have blighted and abandoned homes, and in some neighborhoods there may be one occupied house per block. That isn’t to say that some neighborhoods have not weathered the financial storm. Areas like Boston Edison, Paler Woods, and Indian Village remained viable over the decade. While Downtown and Midtown Detroit have thrived. The city has become a beacon to first-time homebuyers and investors who want to take advantage of the variety of homes and their low prices. But on Detroit Today, host Stephen Henderson delves into the realities of buying a home in the city and whether the low prices are actually low in the long run. Joining Stephen to discuss this is Hector Hernadez, the Executive Director of Southwest Economic Solutions and John Moore, Professor of Economics at Walsh College.
