Hud Homes In Detroit

Written by Jared Vincenti
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As the largest city in Michigan, Detroit has two very different images: Motor City and Motown. As the nation's automotive capital, Detroit has a very strong and traditional blue collar manufacturing background. Also, Detroit has enjoyed an active music scene, producing acts from Motown's Marvin Gaye and Aretha Franklin to Detroit Rock City's Alice Cooper and Ted Nugent.

Homes in Detroit

Detroit's economy is split between these two sides of the city. Recently, the United States has been losing manufacturing jobs to competitors overseas, and Detroit's blue collar side is suffering because of this. The music industry in Detroit is holding steady, but not making enough gains to compensate for the losses suffered by the auto industry.

Overall, Detroit has a shrinking population, and property values are seeing no net gains. The upside of this is that a home in Detroit costs about half of what it would in other parts of the nation. So while there is no current growth in the city, it could be a great opportunity to make a low-cost investment.

If you are looking for HUD homes in Detroit, you should be able to find some at very low prices. As the blue collar parts of the city suffer, entire neighborhoods may depreciate, so don't be too eager just because of a good price. You want to make sure that the area around your property won't affect your resale value in a negative manner.


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