I aint even from detriot...live in detriot or even plan to go to detroit but your production quality made me subscribe. Keep it up. Audio could be better
E.B I enjoy all your videos of Detroit that I’ve seen … just a comment … You did give the amount scale for ONE of the locations…… Ideally I wish you had given the actual amount for each one … because the average citizen doesn’t know what price point those percentages are in real dollar amounts.. at least you did reveal one , any other time that I’ve seen those percentage quotes they give NO dollar amounts
Definitely understand, the exact numbers weren’t mentioned in the other articles but by them being in Detroit they will be very similar to the first one I mentioned. I’ll keep it in mind going forward thanks!
I’m trying to wait because these prices are insane. They might keep going up or it might crash hard. All the signs are there pointing to a bubble, including the price, interest, and denial just like 2006
I see what you mean, as it does feel similar, but as Ed says, the difference this time is that the there is still a shortage of housing and that won't change over night. And then it also depends on the type of housing. I was driving through South Lyon yesterday and saw a new sub being constructed off in the distance. When I got closer, I would tell by the size of these homes, they were going to be at least 800k+. Yeah, it's more houses, but I don't think it's going to alleviate a lot of market pressure at that price point.
@@kevinmach730 Your spot on, the housing being built are certainly not affordable housing. The only homes I’ve seen in Metro Detroit being built for under $300k are in Pontiac, everything else $400k and up
@@EdButlerDetroit Absolutely correct. Then throw in the interest rates like you mentioned in your video, the inflated price of consumer goods and building materials AND a possible looming recession/tight labor market- I don't see these homes flying off the shelves. I hope I'm wrong, because the folks renting will continue to get gouged and many potential first time buyers will be sidelined for a longer period-- but the lack of housing supply makes this a different beast, and I think it's going to be a slow correction.
@@EdButlerDetroit I agree. Which is there a way btw to narrow down a home search to the safe neighborhoods? I want to visit this summer and scope out areas as I wait till next spring, even if it’s a bad detriment that’s when I’d have enough to buy with high prices
Thanks
Thanks for watching
The housing for kids ageing out of foster care is a wonderful idea and makes me proud of my native state.
Right I loved reading about that!
Thinking about investing in something like that
I aint even from detriot...live in detriot or even plan to go to detroit but your production quality made me subscribe. Keep it up. Audio could be better
Thanks, I appreciate that. Haven’t thought about the audio, but I definitely could look to improve.
@@EdButlerDetroit could also be me...i was listening on my headphones
Thanks for another informative video! I didn’t know about The Ribbon project. How exciting!!
I appreciate that! I know it’s an awesome project!
Back with another great video!!🎉🎉🎉
Welcome back!
i bought my house in 2009 as a foreclosure. Im waiting for another foreclosure deal to come along. Patiently...
Best of luck to you!
Me too!!!! I havent seen any close to it😂😂😂😂
E.B I enjoy all your videos of Detroit that I’ve seen … just a comment … You did give the amount scale for ONE of the locations…… Ideally I wish you had given the actual amount for each one … because the average citizen doesn’t know what price point those percentages are in real dollar amounts.. at least you did reveal one , any other time that I’ve seen those percentage quotes they give NO dollar amounts
Definitely understand, the exact numbers weren’t mentioned in the other articles but by them being in Detroit they will be very similar to the first one I mentioned. I’ll keep it in mind going forward thanks!
Great video!! Are you an investor? I if so, I have a source that's trying to sell a large portfolio of SFH
Thanks Derek! I am an investor as well, let me know if you still have the portfolio
1st
Yes sir!
I’m trying to wait because these prices are insane. They might keep going up or it might crash hard. All the signs are there pointing to a bubble, including the price, interest, and denial just like 2006
I hear you but its most likely the former. One major factor is missing, and thats inventory. Look at the inventory levels in 06 vs Now.
I see what you mean, as it does feel similar, but as Ed says, the difference this time is that the there is still a shortage of housing and that won't change over night. And then it also depends on the type of housing. I was driving through South Lyon yesterday and saw a new sub being constructed off in the distance. When I got closer, I would tell by the size of these homes, they were going to be at least 800k+. Yeah, it's more houses, but I don't think it's going to alleviate a lot of market pressure at that price point.
@@kevinmach730 Your spot on, the housing being built are certainly not affordable housing. The only homes I’ve seen in Metro Detroit being built for under $300k are in Pontiac, everything else $400k and up
@@EdButlerDetroit Absolutely correct. Then throw in the interest rates like you mentioned in your video, the inflated price of consumer goods and building materials AND a possible looming recession/tight labor market- I don't see these homes flying off the shelves. I hope I'm wrong, because the folks renting will continue to get gouged and many potential first time buyers will be sidelined for a longer period-- but the lack of housing supply makes this a different beast, and I think it's going to be a slow correction.
@@EdButlerDetroit I agree. Which is there a way btw to narrow down a home search to the safe neighborhoods? I want to visit this summer and scope out areas as I wait till next spring, even if it’s a bad detriment that’s when I’d have enough to buy with high prices
👍🏿👀
Thanks for watching!