Quote:
Originally Posted by bizaro86
It staying down for longer and more houses getting demolished is actually better for a RE investor there, in my opinion. Then even if there's a ton of land available houses could sell for close to replacement cost of building before new supply started to come on the market. There's no way you could build a 3000 sq foot house for anywhere close to that price, so that could appreciate significantly before someone thought it was worth building new. The market has to soak up the huge vacanct supply before any price increases can happen, but if they start getting in-migration again that's possible.
|
Sell my house, take my equity and purchase one of those houses, pay for move, take a pay cut at work and arrange to work remotely only.
Live like a king in Detroit where no one else can get a job.