Rediscovering Detroit Real Estate

Doom-and-gloom media coverage has commonly painted a picture of Detroit as a city in peril. Investors who do their own research, however, will probably discover undervalued opportunities for investment buried beneath the city’s tarnished reputation. Some speculators have already begun to take advantage of the market’s tremendously low property prices, while other buyers are still waiting for the market to hit bottom.

Of course, investors should not overlook the serious problems faced by Detroit’s real estate market—problems such as widespread foreclosures, a weakened local economy, high rates of unemployment and rampant crime in the city. Yet remarkably, more than 99 percent of its metro population has remained intact. How is that possible?