When you hit bottom, you can only go up

The local news was chirping about the increase in Detroit home values over the last decade, since the city was bankrupt. Looking for context, I searched for some other home value appreciation numbers for the rest of the country.

Among large cities, Detroit ranks #1 in the country, at 217%

Among medium size cities, Grand Rapids ranks 9th at 174.2%

Among small cities, Warren, MI, a burb on the north side of Detroit, ranks 6th at 188.5%

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My sister and brother in law want to move to be near their new grandbaby ( and their son and daughter in law, lol, but mostly for the proximity to granddaughter ), and the baby lives in a close in burb of Detroit. Sister has a real nice house about 45 minutes north. They have been shocked to find out that prices in this Detroit burb are about twice as high as what they will get for their current home. And the housing stock in this burb is not anything newer or well built. My brother in law is really good DIYer, worked with a home builder as a young man and is really talented at building stuff, has rehabbed and built houses and garages, and he says whatever they buy will probably require an inside gutting, and a garage redo, and all in a house that costs them twice as much for about 65% of the size of current home.

So yeah, Detroit has rebounded strong.

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If he’s planning to do a lot of that stuff just remind him that what was easy at 40 is a little more taxing at 50, what was doable at 50 takes longer at 60, what you think about doing at 60 is harder at 70, and after 70, well, that’s what tradesmen are for. :wink:

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“If he’s planning to do a lot of that stuff just remind him that what was easy at 40 is a little more taxing at 50, what was doable at 50 takes longer at 60, what you think about doing at 60 is harder at 70, and after 70, well, that’s what tradesmen are for”

Oddly enough, this is kind of reversed for nephew. His garage needs to be reroofed, and BIL, my brother, and myself offered to come down and help him do it. Nephew declined, is going to pay someone to do it. Says between work and baby, he is more than happy to pay someone to do it and keep his stress level down. Fine by me, I’m about 3 1/2 hours away. Not sure if BIL will be able to farm stuff out if they end up moving down there, he would surely be able to do it better than an unknown to him contractor. But he’d have to buy house before selling current home, as don’t think sister can tolerate living in the middle of a remodel ( depending on how deep they go on the remodel, she can handle some dirt,dust, and clutter, but not everywhere )

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@steve203

Forget your supply-side econ rants. We are no longer in that crap.

Go Michigan! Forget about the dumb behinds that want supply-side economics and tax cuts for the wealthy.

All it takes is for the other crowd to get back in control in Lansing. Than it will be back to the pattern of the preceding forty years: defund education, defund road maintenance, defund cities and counties, raise taxes on working people, to pay for more tax cuts for the “JCs”. We dodged a bullet yesterday. Two of the “Socialist! Communist!!!” members of the state house had been elected mayor of their home towns, so special elections were held to fill their seats in the house. “Commies” won both open seats, so the “Commies!!!” are still in control in Lansing.

Steve

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