If Detroit comes back will it help other cities Real Estate??
I have landed a job along Lake St. Clair and am considering moving to the area. My commute is pretty ridiculous right now. However, I know I don't want it to be permanent. I am torn between buying a place or just renting. I was thinking of buying, living there and then moving when I find something different. I would either rent it out or sell.
I have had discussions with some that if the Detroit market takes off and the city starts booming that it might hurt the realestate values in the cities around the area. That is coming from people who don't necessary invest but they have been living around the area their whole lives and pay attentions to home prices for their own good. What do you guys think? Granted, it's really hard to know exactly what the future holds but I wanted to see what people from Biggerpockets thoughts.
Thanks guys