Quote:
Originally Posted by Prototype
I'm no economist... I tried that for a while, didn't work... but I think with the price of anything and everything in Detroit, once money comes in, it may be an attractive spot for some people. Now I'm not saying that it will be the new New York or anything, but I doubt it will continue to become the wasteland that it is made out to be now.
People want to buy cheap and sell high. I think that will happen within the next 5-10 for Detroit.
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For greater Detroit, maybe a 5-10 year recovery is possible. For metro Detroit, not a f'in chance. If you ever get the chance take a drive down the Lodge into downtown Detroit and take a look at the buildings to either side of you, the vast majority are burnt out or boarded up shells. There will be pockets of recovery, but the metro area has been so devastated recovery will be a monumental task. You literally can't go grocery shopping in the area, there are no full grocery stores. It's that bad.
The major thing is what industry will anchor a recovery in Detroit? Michigan has tried desperately to sell it's abundance of skilled assembly line workers with little success, the costs to run such an operation in the US seem to generally be too high. Pharma has developed a bit of a presence, but it's generally focused in the Ann Arbor area and even that industry has up and bolted for greener pastures recently.
As for the Silverdome, any increase in value (especially into the hundreds of millions) is going to require a massive amount of outlay of funds and a massive recovery in the local economy, plus the development of an actual use for the stadium. Like I said earlier, there's nothing for that place to host. RV shows and such are at the Rock Showplace or the Cobo for the most part, the Cobo also hosts the smaller trade shows and the North American auto show. Football and basketball have their own new buildings, and the Wings aren't going to be moving from one old beat up building to another (especially not into a cavernous dome). I don't see anyway that the building becomes a valuable asset.