HomeBridge sees huge growth opportunity in Detroit’s comeback

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Detroit Is Still Declining. As you can see, Detroit has been persistently negative. However, here we can see the first inklings of a Detroit comeback: from its worst population growth rates ever in 2008, to one of its better years in the whole postwar period in 2015, there’s been a sharp uptick in growth rates,

On top of that, Ford plan to invest US$ 3.1 billion in Metro Detroit by 2020. All this will have a big knock-on effect for smaller companies who supply and support the auto-makers. And you can see evidence of this if you look at the last 5 years. Because during this period more than US$ 20 billion was invested in Detroit’s auto-industry.

Gateway ’17, an inaugural small business event aimed at businesses interested in exporting goods or otherwise expanding their customer base in China, took Detroit by storm this week.. The sold-out event features big name speakers like Founder and Executive Chairman of Alibaba Group Jack Ma, CEO of UPS David Abney, and style-maven Martha Stewart.

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View Eryn Rubin’s profile on LinkedIn, the world’s largest professional community.. HomeBridge Sees Huge Growth. HomeBridge sees huge growth opportunity in Detroit’s comeback

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 · Emerald Springs is a step in Detroit’s comeback. In a city that has become synonymous with urban decline, the new 158-unit development has risen on a 26-acre site where part of a World War II-era public housing project was demolished nearly a decade ago.

Wells Fargo settles claims with FHFA  · Erik and Renee Sundquist have won their eight year long battle with Bank of America illegally foreclosing on their home, reaching a $6M settlement. Oppenheim Law shares more here.Rising mortgage rates spur first-time homebuyer activity in November That affordability advantage comes when we assume 30-year, fixed mortgage interest rates of roughly 4 percent. If/when rates rise to 5 percent, and assuming home value growth in line with our forecasts, home buyers will need to spend 17.9 percent of their income on a mortgage. At 6 percent mortgage rates, that share of income jumps to 20 percent.

The dysfunction and delivery of city services that exists today has existed for quite some time. As evidenced by the "Here’s $250 Billion" ad campaign featuring 28 downtown organizations, businesses continue to see opportunity in Detroit. Myth: Detroit is a city in decline. Reality: Detroit is a city on the rise with surging investment.

 · Well, they should be buying! Taxes on the houses I buy are around $1,200/year. The insurance is around $500/year. The ROI on a turnkey I sell is around 15%-18%/year.

Though it is back from the brink of bankruptcy, the city’s reality isn’t as rosy as the popular narrative suggests. After decades of demographic and economic decline, culminating in America’s largest municipal bankruptcy in 2013, many observers were ready to proclaim that the city of Detroit was dead.