Investing in Michigan

[njtosd]

I am very familiar with Michigan and all it’s ups and downs – I lived there until I was in my late 20s and my family just sold a some property in the Northern part of the state. Are you talking about buying real estate in Detroit? Did you know that the mayor, Dave Bing, has suggested (very seriously) that he would like to bulldoze up to a third of the city and have it revert to whatever it would revert to? (see http://www.nytimes.com/2010/06/21/us/21detroit.html). The schools in Detroit are so underfunded that there is also serious talk of having class sizes of up to 60 students – so very few stay in the city if they have the the ability to leave. The NYT just ran a very interesting story about the decline in the population of Detroit and some attempts to maintain neighborhoods (including training citizens to patrol their own neighborhoods ). (see http://www.nytimes.com/2011/03/26/us/26detroit.html) On the other hand, there are a lot of small high tech businesses that have sprung up around Ann Arbor (home to the Univ. of Mich.) and so commercial real estate there might be interesting – although I know almost nothing about that. Also, artists seem to be migrating to the city to take advantage of large studio spaces that are dirt cheap: http://www.npr.org/templates/story/story.php?storyId=102053853
See also this Op/Ed piece where someone bought a Mies van der Rohe there for $100,000 and someone else bought a house for $100. http://www.nytimes.com/2009/03/08/opinion/08barlow.html

There might be bargains, but I’d be careful if I were you.

[CricketOnTheHearth]

Hi, guitar187:

I’m another Michigan-born who moved out here 17 years ago but my dad is still back there and I visit once every year or so.

Basically for decades Michigan has been really three economic districts– the Detroit area and Flint, epicenters of the auto industry and cratering of same, located around the “base of the thumb”. Then there is “outstate Michigan”, which is the rest of the “mitten”. In the south along I-94 you have Ann Arbor (as mentioned, doing all right), Battle Creek (doing middling), Kalamazoo/Portage (doing all right). A bit to the north is Grand Rapids, which is also doing OK, and Lansing, which is kind of suffering from the aura of the auto industry crater, I believe.

Further in the north of the “mitten” you have Traverse City and Mackinac Island… their economies have a large tourism component; I’m not sure how they’re doing.

Finally there is the “upper peninsula”, whose country and economy more resembles rural Canada or Minnesota than the southern part of the state.

If you want to invest in Michigan fairly conservatively, I recommend Grand Rapids, Kalamazoo, or Ann Arbor. Stay the hell away from Flint and Benton Harbor, they are crime epicenters.

Detroit itself still has a way to fall, unless you can hook something up with the artists & musicians & the like who are moving back in there– if you can, knock yourself out. Musically and artistically I think Detroit is a jewel very much still in the ground, but it has a lot of potential because those artists basically have free rein of the place. See Detroit Lives! to see what I mean.

[CricketOnTheHearth]

Hi, guitar187:

I’m another Michigan-born who moved out here 17 years ago but my dad is still back there and I visit once every year or so.

Basically for decades Michigan has been really three economic districts– the Detroit area and Flint, epicenters of the auto industry and cratering of same, located around the “base of the thumb”. Then there is “outstate Michigan”, which is the rest of the “mitten”. In the south along I-94 you have Ann Arbor (as mentioned, doing all right), Battle Creek (doing middling), Kalamazoo/Portage (doing all right). A bit to the north is Grand Rapids, which is also doing OK, and Lansing, which is kind of suffering from the aura of the auto industry crater, I believe.

Further in the north of the “mitten” you have Traverse City and Mackinac Island… their economies have a large tourism component; I’m not sure how they’re doing.

Finally there is the “upper peninsula”, whose country and economy more resembles rural Canada or Minnesota than the southern part of the state.

If you want to invest in Michigan fairly conservatively, I recommend Grand Rapids, Kalamazoo, or Ann Arbor. Stay the hell away from Flint and Benton Harbor, they are crime epicenters.

Detroit itself still has a way to fall, unless you can hook something up with the artists & musicians & the like who are moving back in there– if you can, knock yourself out. Musically and artistically I think Detroit is a jewel very much still in the ground, but it has a lot of potential because those artists basically have free rein of the place. See Detroit Lives! to see what I mean.

[CricketOnTheHearth]

Hi, guitar187:

I’m another Michigan-born who moved out here 17 years ago but my dad is still back there and I visit once every year or so.

Basically for decades Michigan has been really three economic districts– the Detroit area and Flint, epicenters of the auto industry and cratering of same, located around the “base of the thumb”. Then there is “outstate Michigan”, which is the rest of the “mitten”. In the south along I-94 you have Ann Arbor (as mentioned, doing all right), Battle Creek (doing middling), Kalamazoo/Portage (doing all right). A bit to the north is Grand Rapids, which is also doing OK, and Lansing, which is kind of suffering from the aura of the auto industry crater, I believe.

Further in the north of the “mitten” you have Traverse City and Mackinac Island… their economies have a large tourism component; I’m not sure how they’re doing.

Finally there is the “upper peninsula”, whose country and economy more resembles rural Canada or Minnesota than the southern part of the state.

If you want to invest in Michigan fairly conservatively, I recommend Grand Rapids, Kalamazoo, or Ann Arbor. Stay the hell away from Flint and Benton Harbor, they are crime epicenters.

Detroit itself still has a way to fall, unless you can hook something up with the artists & musicians & the like who are moving back in there– if you can, knock yourself out. Musically and artistically I think Detroit is a jewel very much still in the ground, but it has a lot of potential because those artists basically have free rein of the place. See Detroit Lives! to see what I mean.

[CricketOnTheHearth]

Hi, guitar187:

I’m another Michigan-born who moved out here 17 years ago but my dad is still back there and I visit once every year or so.

Basically for decades Michigan has been really three economic districts– the Detroit area and Flint, epicenters of the auto industry and cratering of same, located around the “base of the thumb”. Then there is “outstate Michigan”, which is the rest of the “mitten”. In the south along I-94 you have Ann Arbor (as mentioned, doing all right), Battle Creek (doing middling), Kalamazoo/Portage (doing all right). A bit to the north is Grand Rapids, which is also doing OK, and Lansing, which is kind of suffering from the aura of the auto industry crater, I believe.

Further in the north of the “mitten” you have Traverse City and Mackinac Island… their economies have a large tourism component; I’m not sure how they’re doing.

Finally there is the “upper peninsula”, whose country and economy more resembles rural Canada or Minnesota than the southern part of the state.

If you want to invest in Michigan fairly conservatively, I recommend Grand Rapids, Kalamazoo, or Ann Arbor. Stay the hell away from Flint and Benton Harbor, they are crime epicenters.

Detroit itself still has a way to fall, unless you can hook something up with the artists & musicians & the like who are moving back in there– if you can, knock yourself out. Musically and artistically I think Detroit is a jewel very much still in the ground, but it has a lot of potential because those artists basically have free rein of the place. See Detroit Lives! to see what I mean.

[CricketOnTheHearth]

Hi, guitar187:

I’m another Michigan-born who moved out here 17 years ago but my dad is still back there and I visit once every year or so.

Basically for decades Michigan has been really three economic districts– the Detroit area and Flint, epicenters of the auto industry and cratering of same, located around the “base of the thumb”. Then there is “outstate Michigan”, which is the rest of the “mitten”. In the south along I-94 you have Ann Arbor (as mentioned, doing all right), Battle Creek (doing middling), Kalamazoo/Portage (doing all right). A bit to the north is Grand Rapids, which is also doing OK, and Lansing, which is kind of suffering from the aura of the auto industry crater, I believe.

Further in the north of the “mitten” you have Traverse City and Mackinac Island… their economies have a large tourism component; I’m not sure how they’re doing.

Finally there is the “upper peninsula”, whose country and economy more resembles rural Canada or Minnesota than the southern part of the state.

If you want to invest in Michigan fairly conservatively, I recommend Grand Rapids, Kalamazoo, or Ann Arbor. Stay the hell away from Flint and Benton Harbor, they are crime epicenters.

Detroit itself still has a way to fall, unless you can hook something up with the artists & musicians & the like who are moving back in there– if you can, knock yourself out. Musically and artistically I think Detroit is a jewel very much still in the ground, but it has a lot of potential because those artists basically have free rein of the place. See Detroit Lives! to see what I mean.

[bob2007]

What an interesting topic. I have actually been trying to come up with something as an investment idea in MI for the past month. I’m not sure it would be RE; in my opinion it seems like it would be flat for a while.

Comments on Ann Arbor seem to be good. Lots of smart college kids there and maybe a start-up opportunity for money or renting space.

Surrounded by fresh water, although the quality varies ;). It seems that at some point the state/cities should realize they need to provide breaks to businesses to attract them. The unions have always been a problem there, but in the past 3 years it seems the workforce is realizing that unions are not the way to prosperity. This, despite the fact the GM union benefited in a huge way through the gov’t takeover of GM. Transfer of wealth from investors to union members. Ford is a much better story.

I’m rambling, but I truly would like to be part of a success story there. Lots of good hard working people that deserve a chance (plenty of non-workers as well). It would be great if you share some of your ideas in this area.

[bob2007]

What an interesting topic. I have actually been trying to come up with something as an investment idea in MI for the past month. I’m not sure it would be RE; in my opinion it seems like it would be flat for a while.

Comments on Ann Arbor seem to be good. Lots of smart college kids there and maybe a start-up opportunity for money or renting space.

Surrounded by fresh water, although the quality varies ;). It seems that at some point the state/cities should realize they need to provide breaks to businesses to attract them. The unions have always been a problem there, but in the past 3 years it seems the workforce is realizing that unions are not the way to prosperity. This, despite the fact the GM union benefited in a huge way through the gov’t takeover of GM. Transfer of wealth from investors to union members. Ford is a much better story.

I’m rambling, but I truly would like to be part of a success story there. Lots of good hard working people that deserve a chance (plenty of non-workers as well). It would be great if you share some of your ideas in this area.

[bob2007]

What an interesting topic. I have actually been trying to come up with something as an investment idea in MI for the past month. I’m not sure it would be RE; in my opinion it seems like it would be flat for a while.

Comments on Ann Arbor seem to be good. Lots of smart college kids there and maybe a start-up opportunity for money or renting space.

Surrounded by fresh water, although the quality varies ;). It seems that at some point the state/cities should realize they need to provide breaks to businesses to attract them. The unions have always been a problem there, but in the past 3 years it seems the workforce is realizing that unions are not the way to prosperity. This, despite the fact the GM union benefited in a huge way through the gov’t takeover of GM. Transfer of wealth from investors to union members. Ford is a much better story.

I’m rambling, but I truly would like to be part of a success story there. Lots of good hard working people that deserve a chance (plenty of non-workers as well). It would be great if you share some of your ideas in this area.

[bob2007]

What an interesting topic. I have actually been trying to come up with something as an investment idea in MI for the past month. I’m not sure it would be RE; in my opinion it seems like it would be flat for a while.

Comments on Ann Arbor seem to be good. Lots of smart college kids there and maybe a start-up opportunity for money or renting space.

Surrounded by fresh water, although the quality varies ;). It seems that at some point the state/cities should realize they need to provide breaks to businesses to attract them. The unions have always been a problem there, but in the past 3 years it seems the workforce is realizing that unions are not the way to prosperity. This, despite the fact the GM union benefited in a huge way through the gov’t takeover of GM. Transfer of wealth from investors to union members. Ford is a much better story.

I’m rambling, but I truly would like to be part of a success story there. Lots of good hard working people that deserve a chance (plenty of non-workers as well). It would be great if you share some of your ideas in this area.

[bob2007]

What an interesting topic. I have actually been trying to come up with something as an investment idea in MI for the past month. I’m not sure it would be RE; in my opinion it seems like it would be flat for a while.

Comments on Ann Arbor seem to be good. Lots of smart college kids there and maybe a start-up opportunity for money or renting space.

Surrounded by fresh water, although the quality varies ;). It seems that at some point the state/cities should realize they need to provide breaks to businesses to attract them. The unions have always been a problem there, but in the past 3 years it seems the workforce is realizing that unions are not the way to prosperity. This, despite the fact the GM union benefited in a huge way through the gov’t takeover of GM. Transfer of wealth from investors to union members. Ford is a much better story.

I’m rambling, but I truly would like to be part of a success story there. Lots of good hard working people that deserve a chance (plenty of non-workers as well). It would be great if you share some of your ideas in this area.

[briansd1]

Why not Florida?

I think that Florida has more upside potential than Michigan in the next couple decades.

[briansd1]

Why not Florida?

I think that Florida has more upside potential than Michigan in the next couple decades.

[briansd1]

Why not Florida?

I think that Florida has more upside potential than Michigan in the next couple decades.

[briansd1]

Why not Florida?

I think that Florida has more upside potential than Michigan in the next couple decades.

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