I moved from the Detroit area (redford) just two years ago. I lived in the Detroit area over 30 years. So hear goes my two cents...
Detroit proper (city versus metro area)
The best part of Detroit the city is actually near the Grosse Pointes. Detroit is adding many subdivision over the past decade (ex: Harbortown on the river) and several inland subdivisions where old neighborhoods are ripped out and replaced. The greatest hinderance to its rebound is the auto industry where almost all economic activity in Detroit springs off of.
The worst are is Delray (which is near/south of the Ambassador Bridge and downriver. It is a largely industrial area. The Cass Corridor is actually greatly recovering

due to condominiums being developed there.
I give 5-7 years for Detroit to make a real recovery. There is a a new CEO (Allan Mullaly) at the helm at Ford and I believe he is the man to turn around Ford. In the short
term, lots of unemployment in the area.
Downtown Detroit is truly recovering. The corporations are
investin in the dowtown are (Compuware for one). And
they added Campus Martius for a park there that is quite pretty. Several restaurants opened up downtown as well.
(This is a good sign) Several casinos are helping to promote economic activity there as well. (Gambling is not the best way to generate econimic wealth but it helps).
Two stadiums moved downtown - Ford Field for the Detroit Lions (Lions are not good but the losses give you something to talk about at dinner

) and Comerica Park for the Detroit Tigers. And don't forget Greektown.
In all, Detroit/Michigan are in for some tough economic times ahead would be a mistake to write it off.
Michigan is one of the prettiest states in the nation and I miss the trees (try driving through 3 hours of corn fields).
I'm try to give soma balance to a state I miss but forced
to leave. I hope this helps.