Quote:
Originally Posted by Crawford
Speaking generally, these homes are cheap for a reason. Detroit has had terrible appreciation over the last 60 years, even though there are positive bursts every 15 years or so, when the latest "revitalization" sets in. If you hold Detroit RE long-term, you're likely to be disappointed.
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Though these positive bursts are almost certainly better for value gain ratio than any investing in higher-value stuff. A house you bought for the amount of taxes due on it can be worth ten times what you paid a couple years later; you won't ever see that in "normal" RE investing over such a short time frame.