A Booming Detroit is still fragile? (Wayne, Hart: real estate, 2015, neighborhoods)

[Republic of Michigan]

Post-Bankruptcy, A Booming Detroit Is Still Fragile : NPR

[NOLA101]

A booming Detroit? Is this article from the Onion? Wayne County has, presently, the worst population loss of any county in the nation. Yeah, there are a few good things happening downtown and midtown, but let's be real.

There are 3,143 counties in the U.S. If you're coming dead last out of 3,143, I'm fairly sure your status shouldn't be characterized as "booming".

[animatedmartian]

Originally Posted by NOLA101

A booming Detroit? Is this article from the Onion? Wayne County has, presently, the worst population loss of any county in the nation. Yeah, there are a few good things happening downtown and midtown, but let's be real.

There are 3,143 counties in the U.S. If you're coming dead last out of 3,143, I'm fairly sure your status shouldn't be characterized as "booming".

Current population trends have nothing to do with on-going construction.

Most construction projects that have started within the last year since exiting bankruptcy won't be completed until the later half of 2016 at soonest. Net population changes wouldn't be reflected until the annual estimates the next year after that.

Besides which, what does Wayne County have anything to do that goes on within Detroit?

[Indentured Servant]

I think Detroit should embrace the "booming" label and run with it....even if it is not true at this point in time....it can likely become a self fulfilling prophecy. A good part of Detroit decline is the result of self fulfilling prophecy of negativity.

I remember living in Atlanta in the 80's when it was a metro of 2.5 million people. I swear everyone in the area worked for the Chamber of commerce and was selling the city. I would read all kinds of embellishments in their local media about how big Atlanta was and everyone seemed to buy into it.....and it eventually became true.

[SageCats]

Detroit is barely one year out of bankruptcy. It has a long way to go but it is improving. This website is very informative and had been blogging about the different areas and challenges it still faces and has faced: Next Chapter Detroit - Detroit Bankruptcy News | One place to find news on Detroit bankruptcy, its effects on people and neighborhoods and its long-term implications for the city. Powered by WDET.
I think it would also be great if startups in the silicon valley would open offices in Detroit if relocating is not possible. If high tech companies would choose to open in Detroit instead of California, this would help a lot too. That would be great!

[Fubarbundy]

Some booming might be the sound of the implosion of buildings beyond repair?

[magellan]

Originally Posted by Indentured Servant

I think Detroit should embrace the "booming" label and run with it....even if it is not true at this point in time....it can likely become a self fulfilling prophecy. A good part of Detroit decline is the result of self fulfilling prophecy of negativity.

I remember living in Atlanta in the 80's when it was a metro of 2.5 million people. I swear everyone in the area worked for the Chamber of commerce and was selling the city. I would read all kinds of embellishments in their local media about how big Atlanta was and everyone seemed to buy into it.....and it eventually became true.

Oh yeah, I remember everyone called it "Hotlanta" back then because it was hot and growing so fast. Not sure if they still do. I don't really hear of anyone moving to Atlanta anymore.

Detroit's rebirth is going to take multiple decades. It needs to not listen to the naysayers so much and just keep forging on.

[Geo-Aggie]

I've had the opportunity to visit with some city officials recently. One thing that is booming is optimism, which from what I understand is something that Detroit has been lacking for the past .. four decades or so. From what I understand, the population hemorrhaging has leveled off and property values are actually increasing. The Downtown/Midtown areas are desirable for many, and I doubt that has been the case for quite some time. Due to the demand construction in those areas is indeed booming. While we certainly can't describe real estate outside of the city center as hot, transactions are occurring, and not just for investors. That's a step in the right direction.

So yeah, it's no San Francisco, but given what it has been for the past 15 years I'd say Detroit is currently booming.

[animatedmartian]

Originally Posted by Geo-Aggie

I've had the opportunity to visit with some city officials recently. One thing that is booming is optimism, which from what I understand is something that Detroit has been lacking for the past .. four decades or so. From what I understand, the population hemorrhaging has leveled off and property values are actually increasing. The Downtown/Midtown areas are desirable for many, and I doubt that has been the case for quite some time. Due to the demand construction in those areas is indeed booming. While we certainly can't describe real estate outside of the city center as hot, transactions are occurring, and not just for investors. That's a step in the right direction.

So yeah, it's no San Francisco, but given what it has been for the past 15 years I'd say Detroit is currently booming.

Freep did a story saying the residents were more optimistic too. 70% seems kind of high, but then there's a lot that people haven't seen happen in a long time, I guess.

Exclusive Detroit poll: 69% say city headed in right direction

[Indentured Servant]

Originally Posted by Geo-Aggie

I've had the opportunity to visit with some city officials recently. One thing that is booming is optimism, which from what I understand is something that Detroit has been lacking for the past .. four decades or so. From what I understand, the population hemorrhaging has leveled off and property values are actually increasing. The Downtown/Midtown areas are desirable for many, and I doubt that has been the case for quite some time. Due to the demand construction in those areas is indeed booming. While we certainly can't describe real estate outside of the city center as hot, transactions are occurring, and not just for investors. That's a step in the right direction.

So yeah, it's no San Francisco, but given what it has been for the past 15 years I'd say Detroit is currently booming.

That is what it takes....optimism. Detroit and Detroiters have taken pride, seemingly, in self degradation.