In my opinion, higher interest rates are suppressing housing prices, which are keeping demand on the sidelines, especially for the newest, largest generation who are now looking to form a household and move out of mom and dads (or their 8 dude group frat house, said my 26 year old self).

I agree with many of the other members of BP in this post, Detroit is not an easy market, still many pockets in the city, poverty zones, local Detroiters codes that must be attended, but at the end of the day is a powerful and big American city that is coming back (see GPD/Capita increase, unemployment rate decrease -still high for U.S. 9% in comparison with a national average of 3.9%-, an improvement in the family household income) that can make SOME investment thesis work properly. 

Her and her husband took some cash after consolidating households and bought an out of state property. 

With that kinda money you are near luxury living monthly out of pocket pmt.One more thing, even if roof is good (besides other necessary household utilities) 5k down pmt is a significant number for anyone ok living in 10k house neighborhoods.

In my lifetime thus far I have seen things go from 1 income households surviving, to suffering, forcing 2 income households being normalized, first thriving, than surviving, now struggling on razor thin budget's. 

I'm tempted to bid on an Amazon pallet of returned household goods for my next property, would be curious to hear from someone who did this. 

This thing that jobless number go up and people will be forced to sell is proven to be wrong too, otherwise home price in bay area would go down a lot by now.Reason: typical household has dual income , one layoff the other can cover; and then even if they have to sell, the rent would be there anyway.

A more useful metric in this scenario would be "number of households."

High income household and involved in syndicates but no individual investment properties owned (though interested).

Things to look for is a good life style, warmer climate, good jobs moving into the area, affluent households moving into the area. a new up and coming area that is starting to go viral as a desirable place to live.3.