JUST IN !!!.........................
“DETROIT HOME VALUES JUMP 20%, BIGGEST GAIN IN 2 DECADES”
DETROIT RESULTS ARE IN...
PROPERTY VALUES HAVE SKYROCKETED IN THE COMEBACK CITY...
RENT TO VALUE RATIO’S #1 IN USA...
CASH FLOW IS STILL KING IN DETROIT 2020...
DID SOMEONE SAY HIGH DOUBLE DIGIT APPRECIATION !!??
So the numbers aren’t just the best we’ve seen since the crash but the numbers are the best we’ve seen since 10 years prior to the crash.
“Of 194 city neighborhoods, 186 neighborhoods saw values increase in 2019. That's the most growth in a single year since 1997, according to city officials.”
Now I could go on and on like I have in the past and shower our friendly Detroit haters with all sorts of positive data about the explosion of growth in the Detroit economy and the Detroit housing market but enough crocodile tears for now. I'll just keep it short and sweet and chat about the huge amount of love Motor City has received in just the past few months from the Big 3. The kind of love that no other state in the country is receiving. As we all know Chrysler went deep about 4 months back breaking ground on what is to be the largest new automotive plant America has seen in 10 years. The largest Detroit has seen in 30 years! With a whopping 4.5 BILLION DOLLAR commitment across the board for Detroit and that's not even a whisper about the gargantuan ripple affects that kind of capital can have on a city. And not just any city but a city known to be the city where investors get the biggest bang for their buck and the American dollar gets stretched the furthest. So take that in for just a moment and than lets fast forward to a few months later to November when GM pulls a rabbit out of a Detroit hat and does a 180 and announces it will not shut down their historic Hamtramck plant but rather dust it off in preparation to unload a spanking 3 BILLION DOLLARS into it to begin building electric pickups, vans, battery modules, and possibly even reviving the Hummer brand there. I remember laughing so hard, thinking to myself did they just say EV Hummers in Detroit!!?? LOL, and before Detroit can catch it's breath the autonomous and EV big boy's begin doing deep dives while China is on their knees and Silicon Valley is looking like a bunch of jokers who fell asleep in the sun. End result, Detroit positions itself as the epicenter of the MULTI-TRILLION DOLLAR Autonomous and EV Industry and the red carpet is rolled out for Waymo's CEO at the Forbes Under 30 Summit in Detroit. CEO Krafcik publicly reveals that the world's first dedicated Autonomous Plant has officially opened in Detroit.......... Right about now another top autonomous player called Rivian (within a year everyone will know this name.) begins picking up ridiculous amounts of steam again. Now Rivian who received hundreds upon hundreds of millions ( about 3 BILLION in total 2019) from google, amazon and even Ford. Now they aren't headquartered in Detroit but they are in Plymouth Michigan just a quick 30 miles away. And before you can think twice about it Ford steps up to the plate again for Detroit and Michigan and they announce they'll be pouring a BILLION or two into one of Detroit's nearest suburbs, Dearborn. SO, when someone tries to tell me Detroit isn't one of the most best places to invest into rental properties right now, etc etc, I just laugh... But as promised i wont shower the haters with more boring details like just how beautiful downtown Detroit has become or how Detroit is becoming one of the top tech cities and start up funding cities in the Midwest, or how there are more engineers in Detroit then any other city in the country or how loads and loads of people from all over the world are visiting everyday and loving it, or how AWESOME the Industrial market is or how the three big casino's just had their best year ever or how for the first time in 50-70 years there wasn't a population decrease or how AWESOME Dan Gilbert and Mayor Duggan are or how great the banking, healthcare, hospitality, industries are doing there or how boutique hotels are literally popping up on every other corner downtown, or tell you about the incredible rebirth of Midtown, the revitalization of Livernois, or how renters are lined up down the block waiting to rent a freshly rehabbed property or how the hotels and motels are busier then they've been in a decade or about the gobs and gobs of all the positive and infinite economic and Housing Market indicators that are putting big happy happy smiles on the faces of Detroit investors and those associated with REI. Like I said in a forum the other evening, hey don't take my word for it, just call up Detroit Title and Escrow Company or any other title and escrow company in Detroit for that matter and they can tell you themselves that this is the first winter since the crash that sales have actually increased rather than decreased in a decade.... So like I said I'm not going to say much to those Detroit haters but i will leave them with a few goodbye snippets from a few recent articles and stay on topic about the Herculean heartfelt automotive boom taking place in the big D right now.....
“We are very quickly becoming not only an automotive center, but an absolute global leader for the development of this next-generation mobility technology.”
“The thoughts around Detroit have changed,” she said. “We saw it once as a downtrodden place that once was the center for innovation … it has swung back. Going to Detroit is much different than it was 10 years ago. It looks like a different place.”
“Ford believes in the city of Detroit and its peoples’ future as a global hub for modern mobility,” Ford’s Corktown spokeswoman Christina Twelftree said.
“Michigan is the automotive R&D capital of the world and Detroit is uniquely positioned to leapfrog other urban cores to explore the role transportation can play in revitalizing cities.”
The Motor City's historic strength in manufacturing is enabling it to become the center for the future of the automotive industry.
"There was this thinking that Silicon Valley was going to crush Detroit, that they knew how to do it better," said Michelle Krebs, an analyst with Cox Automotive. "Well, reality has set in" that Detroit knows is how to make cars. "Yes, they can be autonomous, they can be EVs. But … you still have to know how to build a car.”
Detroit does. And recent investments by all three Detroit automakers as well as a Silicon Valley self-driving company are helping the city build on its legacy of manufacturing know-how to stake the claim as the nation’s center for self-driving and electric vehicles.
Just a few years ago, conventional thinking assumed Silicon Valley's tech heavyweights held the upper hand in producing the next generation of vehicles. That was before the extensive problems experienced by electric-vehicle start-up Tesla Inc. in building EVs at its California plant, among other challenges to the tech-will-prevail thesis.
“It’s almost like we are a Silicon Valley again, because if you look back over a century…we were a hub for natural resources, innovation and people — and we are seeing that again,” said Glenn Stevens, executive director of MICHauto and the Detroit Regional Chamber’s vice president of automotive and mobility initiatives.
The global automotive industry has multiple cities wanting to stake the claim that they are the center for future automotive technologies. Because Detroit is "working from a position of history and a position of strength with regards to the ecosystem, it’s a great place for the center to develop,” Stevens said.
California-based Edmunds analyst Jessica Caldwell said it's logical for Detroit to see these investments because of the existing infrastructure, workforce and having the Detroit Three headquartered here.
