They ignore how intensively local most forms of real estate investing are until it bites them in the butt, and then they lie to themselves and pass off their over-reliance on numbers and metrics instead of people and relationships as just bad luck.Math guys will buy a total piece of crap that's guaranteed to lose them money because they have more faith in their spreadsheets than a priest in Christ, they can't even see that the place is falling down.

returns are fine.. its the over reliance on OPM that will make returns go up or down.. when i started lending in 02 for turnkey model which was basically brand new.

But that had to do with so many different factors that are unique to Detroit (e.g. over-reliance on one industry, CRAZY politics/corruption, CRAZY union issues, a wide geographic area that made it very expensive to provide necessary governmental services, etc.).

., evidence that it's not over reliant on University of Florida

Los Angeles is the 2nd most populous region in the United States, yet it is a very horizontal city over reliant on the single family. 

Given what is obviously the Fed's overreliance on monetary policy to control inflation, however, sharply rising real inflation rates will only be countered by rising interests late in the game, as they are being now.

I don't know if there is a unified theory as to why Detroit ended up where it is now, but I would say it's a combination of (1) over-reliance on a single industry; (2) some epic battles between that single industry and the union; (3) emergence of the automobile industries in countries like Japan; and (4) terrible race relations.  

issue here is over reliance on closing attorneys and not reading what your signing. 

@Ian JacksonThe two things I hear most now are, (1) overreliance on the MLS to look for deals, and (2) a misplaced certainty that this is all about numbers.1. 

Once you have good borrowers that like you and rely on your service, the will often come back over and over. Reliability