The recent S&P Cash Shiller index showed that Detroit was one on only 2 metro areas out of the top 20 to show home value increases. Detroit posted a year on year gain for August and Month on Month of 2.8 % (July)
These increases can be attributed to the up turn in the automotive industry (GM, Chrysler and Ford all based in Detroit) and the huge bailout funds they received.
Many commentators are calling the potential bottom in the Detroit Property Market, and we feel they may be right.
These indicators are reinforcing what we have suspected for the last 24 months, that properties are under valued. The time to buy is now.
