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Old 03-01-2011, 10:57 AM
 
Location: London, England
643 posts, read 1,075,505 times
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With so many abandoned neighbourhoods and houses surely it would be a good time to build a factory/manufacturing type building simply due to the cheap land prices and high unemployment.

Thoughts?
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Old 03-01-2011, 11:18 AM
 
134 posts, read 465,174 times
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Quote:
Originally Posted by LondonUSA View Post
With so many abandoned neighbourhoods and houses surely it would be a good time to build a factory/manufacturing type building simply due to the cheap land prices and high unemployment.

Thoughts?
Thats what I think could help Detroit's economy however they have alot of abandoned factories that would be cheaper to fix up and retool as oppose to construct brand new factories. either way if more industry was to move in there i have a feeling the economy would get better and unemployment would go down due to more jobs being created for the incoming industries or manufacturers. but i cant speak for residents i dont live there and im not from there so idk what would help at this point however i see in ways how that could help.
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Old 03-01-2011, 11:22 AM
 
Location: On the brink of WWIII
21,090 posts, read 27,316,167 times
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Odds are about as good as you get in Vegas...roll the dice and take a chance..
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Old 03-01-2011, 11:25 AM
 
Location: Downtown Detroit
1,497 posts, read 3,329,994 times
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Yes and No.

If you plan to buy up large swaths of abandoned houses with the hope that you will be able to flip them for a big payout, then Detroit is not worth investing in.

On the other hand, if you plan to retool an old industrial facility or renovate residential properties in stable neighborhoods, then Detroit is a superb investment.

Detroit is just like any other investment, you have to do your research to make money. You also need to have a vision for how different parts of the city will transition and how your investment will fit into that picture. Based on what you invest in and where it is located, your risk could be high or your risk could be low. You could make a big return on your investment, or you could see moderate return. If you make a poor decision, you will probably lose money.
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Old 03-01-2011, 11:26 AM
 
Location: London, England
643 posts, read 1,075,505 times
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Quote:
Originally Posted by goodfella24 View Post
Thats what I think could help Detroit's economy however they have alot of abandoned factories that would be cheaper to fix up and retool as oppose to construct brand new factories. either way if more industry was to move in there i have a feeling the economy would get better and unemployment would go down due to more jobs being created for the incoming industries or manufacturers. but i cant speak for residents i dont live there and im not from there so idk what would help at this point however i see in ways how that could help.

Redoing up the old facotries would come at a great price due to the addicts and homeless that use them as shelter and the erosion/weathering that has taken place over the period. Many schools have been shut and more are going to be shut so i would guess that the population is quite uneducated (generalization) so factory/manufacturing work may be a way of improving the economy.
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Old 03-01-2011, 11:28 AM
 
Location: London, England
643 posts, read 1,075,505 times
Reputation: 162
Quote:
Originally Posted by ForStarters View Post
Yes and No.

If you plan to buy up large swaths of abandoned houses with the hope that you will be able to flip them for a big payout, then Detroit is not worth investing in.

On the other hand, if you plan to retool an old industrial facility or renovate residential properties in stable neighborhoods, then Detroit is a superb investment.

Detroit is just like any other investment, you have to do your research to make money. You also need to have a vision for how different parts of the city will transition and how your investment will fit into that picture.

True and im saying that the land is there and with something like 40% unemployment there is a large amount of potential employees. Im suprised noone has at least had a go. If i had the money i would consider taking this risk.
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Old 03-01-2011, 11:32 AM
 
Location: NE CT
1,496 posts, read 3,258,623 times
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Quote:
Originally Posted by LondonUSA View Post
With so many abandoned neighbourhoods and houses surely it would be a good time to build a factory/manufacturing type building simply due to the cheap land prices and high unemployment.

Thoughts?
The Democrats, and their Union schills, were in charge of Detroit for 50 years and what you see are the results of that unholy alliance. I wouldn't sink one red cent into Detroit until the current power base is gone.

Designate Detroit as a true free market zone, with a freely elected Libertarian government, and you would see the Phoenix rise from the ashes.

Here are the guidelines:



Platform | Libertarian Party

Quote:
Moderator cut: quote removed, copyright protection - please read our terms of service.

Last edited by Yac; 03-02-2011 at 12:53 AM..
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Old 03-01-2011, 11:34 AM
 
Location: Downtown Detroit
1,497 posts, read 3,329,994 times
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Quote:
Originally Posted by LondonUSA View Post
True and im saying that the land is there and with something like 40% unemployment there is a large amount of potential employees. Im suprised noone has at least had a go. If i had the money i would consider taking this risk.
I agree. Your biggest concern wouldn't be homeless squatters, but rather "scrappers" who might try and steal raw materials and equipment. While this problem is not limited to Detroit, it would be wise to keep your facility locked down and secure when you weren't there to avoid thefts.
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Old 03-01-2011, 11:56 AM
 
Location: North of Canada, but not the Arctic
17,784 posts, read 16,006,861 times
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LondonUSA, would you care to venture a guess as to why land is cheap and unemployment is high?
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Old 03-01-2011, 12:41 PM
 
Location: London, England
643 posts, read 1,075,505 times
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Quote:
Originally Posted by Retroit View Post
LondonUSA, would you care to venture a guess as to why land is cheap and unemployment is high?

One of the reason is abandonment due to the city going nowhere and high tax prices (and many more reasons i know). This has left many people unemployed and many do not have skills to get an office job or job that requires skill. Manufacturing work does not require high skill levels and they could be taught the required skills anyway.
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