Where to invest in Detroit

[Anthony Grinblat]

Trying to figure out the best place where to invest your money can be a never-ending spin. All investments have their advantages and disadvantages. If your main priority is to get the most return for your money, Detroit is you. Seriously! If you don't believe us, see what CNN Money and RealtyTrac are saying about investing in Detroit real estate. The national annual return average for rental properties is 10%, which is dwarfed by Detroit's annual average of 30%. With three times the return on investment, it is no wonder why everyone from Belgium to China wants to invest in Detroit. The size of Detroit is usually what surprises most people, 5,142/sq mi (1,985/km2). You can take the cities of Boston, San Fransisco and Manhattan and fit them comparability with the Detroit city limits. The massive size of the city coupled with the bottoming out of the population to 680,000 in 2013, the city has seen a large increase in housing demand. As of 2015, the population of Detroit has risen 3.5% to 713,000. The population increase is a direct result of new companies coming into the city and a hiring boom in the technology field. The people that are being hired into this industry are millennials with a strong ambition to live in an urban environment close to work. Other challenges millennials are facing is the "Red Tape" associated with purchasing a home. Down payment, good credit score, proof of income, etc. are all thing hindering young people from purchasing a home. Also, many young professionals are opting out of the home purchase process all together so as to not me tied down to one location in the event they want to relocate across the state or country.

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