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Optimistic Outlook for Detroit

By Yasmine Elamali on January 11, 2018 6:36 pm

0 CommentsMarket, Opinion, Real Estate, Redevelopment

A revived real estate market is largely built on optimism — business, consumer and investor optimism. According to some heavy hitters in the industry, it is a feeling that has returned to the Detroit real estate market. For the first time in a long time, or probably since ever, the outlook for Detroit is strongly optimistic. At this time, the market is as such that we would call it stable – it is on the rise but not peaking nor bottoming in the diversity of opportunities in Downtown and its neighborhoods.

Politically, the city has leadership and passion, while the economic base conitnues to grow and diversify. Empty nesters and millenials seeking an urban lifestyle are migrating into Detroit creating a promising wave of new comers and/or new doers.

In Real Estate, the demand for space in all sectors is definitely outweighting the supply and it’s creating a robust development market that Detroit has not seen in decades.

Importantly, Detroit’s rich history and cultural background is being noticed profusely by national and international tourists. Not only people are finally discovering what Detroit is all about, but city officials and residents are passionately eager to compile all its goodness to make the city strong. Long live Detroit!

#DiscoverDetroit

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