With the largest bankruptcy in US now behind it, the city is trying to attract investors, innovators and young adventurers, says National Geographic. This is the perfect time to put a foot if property interests you.
IN THE HEART OF DETROIT, America’s poorest big city, Anthony Hatinger is planting seeds in a reclaimed liquor store, a squat building repainted in Disney colors: supersize white fish swimming through happy green reeds in deep blue water.
Wearing a tie-dyed T-shirt and a gray knit cap, bathed in the glow of greenhouse lights, he holds a pen cap, maneuvering its pointy end to scoop three tiny basil seeds from his palm. He drops them onto moist, cakey plugs of soil—“brownie bites,” he calls them—as he works to give them the potential to sprout.
The sweet Italian basil will grow alongside a variety of lettuces. Downstairs, where liquor was once stored, thousands of baby tilapia swim in vats. Their waste, pumped upstairs, feeds the greens, which absorb the nutrients. The water, thus filtered, flows back down to float the fish. The cycle continues.
Detroit has topped the list of mortgage affordable cities according to a recent study by Zillow.
According to Zillow, an online real estate marketplace, over the past several years, renting – typically considered a budget-minded choice – has become increasingly less affordable. Meanwhile, recovering home prices and historically low mortgage rates have made buying more affordable. The Columbus Dispatch:
BThe report found that a 30-year mortgage on a Detroit-area home will require 13.2 percent of Detroit-area income, well below the 28 percent national average.
US billionaire Dan Gilbert, who now has more than 70 buildings in Detroit, been emulated around the world. Wealthy investors are flocking to Detroit to now enjoy the combination of still outstanding prices and an economic recovery of the city.
The following examples are the most significant. In 2013, Fernando Palazuelo, a Peruvian billionaire, purchased for a huge mouthful of bread complex formed by the abandoned buildings of the old Packard plant, it will turn into what might be called a city within a city. Last month, the second richest man in the world, the Mexican Carlos Slim, has made its first acquisition, a 10-storey building. Nico Gatzaros, the agent who sold him, had received offers from around the world. Last week, the billionaire Jimmy Lai honkongais bought 31 properties for auction.