Surprise! Detroit among the best housing markets to invest in

  Home prices in those areas fell about 40 percent on average from their highs, peak to trough, Rood said. And inventories are the tightest in Detroit compared with the other cities listed in Rood’s top five. Detroit only has two months of inventory available for sale, while there’s about seven months of inventory in … More Surprise! Detroit among the best housing markets to invest in

MI population rises

If population could increase value of real estate, Africa would be a wealthy area. But as the WSJ notes, you also need job &/or income growth. Will “right to work” help bring income to MI ? It’s help other states that enacted such laws. Further impact on real estate inventories is how foreclosures are handled. … More MI population rises

Michigan Right to Work – I smell appreciation

For us left in MI, here’s some sobering stats and realities. Per the Wall Street Journal: “Between 1980 and 2011, total employment in right-to-work states grew by 71%, .. in non-right-to-work states … 32%. .. in Michigan … 14% during that time…. inflation-adjusted compensation grew 12% in right-to-work states, but just 3% in the others…. … More Michigan Right to Work – I smell appreciation

Real Estate May Be The Buying Opportunity of the Decade

After you read the below article I posted in 2012, jump on forward to this: Investing: then and now March 29, 2018   … so said Time mag back in July 2011. Click the photo to check their logic. I wouldn’t have called out the buyers quite so quick, but now I’m bullish on buying. Why … More Real Estate May Be The Buying Opportunity of the Decade

Current market: Prices rise, fall equally

The least expensive housing market nationally at the beginning of 2012 was metro Detroit, followed by nearby Toledo, Ohio, according toNAR  The third-cheapest market was Lansing-East Lansing, Mich. In the first quarter of this year, half of the houses sold in the Detroit area went for less than $52,300 per NAR. Read more Top risers … More Current market: Prices rise, fall equally

Investors Are Looking to Buy Homes by the Thousands

…….The big investors are wooed by what they see as a vast opportunity. There are close to 650,000 foreclosed properties sitting on the books of lenders, according to RealtyTrac, a data provider. An additional 710,000 are in the foreclosure process, and according to the Mortgage Bankers Association, about 3.25 million borrowers are delinquent on their … More Investors Are Looking to Buy Homes by the Thousands

For real estate, a giant spring clearance sale

Despite record affordability of homes, buyers are still spooked and staying on the sidelines  ..Existing home sales plunged nearly 10 percent in February to their lowest level in nine years. It was the largest drop since July. Forty percent of those sales were on distressed properties. And new home sales are on track to come … More For real estate, a giant spring clearance sale

Flint loosing more than any but New Orleans

Cities like Flint, Mich., have economies based on a single major industry. In Flint’s case, that industry is auto manufacturing. When that industry began to decline, Flint was unable to diversify to prevent a population exodus. ……..Since the American auto industry began its decline in the 1980s, Flint has consistently lost at least 10% of its … More Flint loosing more than any but New Orleans