I read an article yesterday or day before regarding the housing market and the cities that are doing the worst and the ones that are seeing the best recovery with highest sales.
Detroit was number 5.... in the list of best recovery!!!!
Now...haven't we been seeing all over the news this month how horrible Detroit is and all the abandoned houses and people leaving etc?
Which one is true?
If Detroit is seeing a huge uptick in the housing market ... just WHO in the hell is buying these houses?
There is a group that has come in here... I will look it up later....that is going around the country to various cities, buying in mid-level affordable houses. Here it's been in the low $100's to low $300's. Rumor has it, they are looking to buy 300 houses here! That's a lot of houses...anywhere. They are paying cash. They houses are going to be used for "rental properties".
I hate to sound

.... but 300 houses!! When it first started happening, people - Realtors, home sellers, the media - were really excited. Yes it is good for the housing market and local economy... but. Who exactly will be renting these houses?