Best way to invest in Detroit?

[poofyhairguy]

It only stands to reason that political stagnation is dangerous regardless of where you are or which party has become complacent and inbred? Nope, can't be that.

Can't be, or Houston and Dallas would be rotting in the same state Detroit is in instead of being some of the fastest growing metro areas in the nation.

 

[Hacp]

Detroit is not a growth investment. Not since Snake Pliskin rescued the President has there been a better reason to get out of a city...

That's fine. I'm a value investor. Basically investing in companies(or in this case a certain part of a city) that has fallen out of favor, but still have solid fundamentals.

 

[Spungo]

Buy a bulldozer

This is literally the correct answer. The city has tons of vacant buildings that need to be demolished because vacant houses have a nasty habit of turning into meth shacks, gang hangouts, etc.

It helps if you have really powerful political connections. Convince the feds or the state government to pay for you to demolish vacant houses.

 

[GasX]

but still have solid fundamentals.

Detroit is fundamentally ruined...

 

[master_shake_]

a little overkill but something close to this minus the radiation ought to do it.

 

[Spungo]

a little overkill but something close to this minus the radiation ought to do it.

How about fire? I hear that works quite well.

 

[Hacp]

This is exactly the behavior I enjoy. Everyone is full of fear. Don't touch detroit! you guys say. As warren buffet says, when others are fearful, be greedy and when others are greedy, be fearful.

 

[Spungo]

This is exactly the behavior I enjoy. Everyone is full of fear. Don't touch detroit! you guys say. As warren buffet says, when others are fearful, be greedy and when others are greedy, be fearful.

I think he also said not to invest in communist shit holes so horrible that people make movies to put across the message that only a robot could fix that broken city. btw that movie is from 1987, so it's had the reputation of "how could it possibly get worse?" for about 27 years.

The big thing holding Detroit back is democracy. The people in that city keep thinking their bankruptcy is caused by some evil corporate cabal, so they keep raising property taxes instead of cutting spending, allowing citizens to have guns, and executing criminals behind closed doors. The result is capital flight; people with money flee to the surrounding areas where the taxes are lower and crime is lower.

When real estate was down 50%, people asked how it could possibly go lower. It has. You can buy houses in Detroit for $500. The houses still have no bids because they're literally worthless. When their local government has such an anti-business mindset, I can't imagine it getting better any time soon. If you're going to invest, start small. Buy 1 house, not 20. Treat this as a high risk speculation.

 

[bunnyfubbles]

turn some of the abandoned neighborhoods into a zombie theme park

oh wait, someone already had that idea: http://www.huffingtonpost.com/2012/07/02/zombie-apocalaypse-detroit-theme-park_n_1644298.html

 

[Jay5]

Can't be, or Houston and Dallas would be rotting in the same state Detroit is in instead of being some of the fastest growing metro areas in the nation.

and how close is texas to mexico? i wouldnt say the citys in texas that are among the fastest growing in the nation would be due to a positive reason and not because this country is being flooded with illegal immigrants

 

[Hugo Drax]

Well I would invest in Omni consumer products. They are planning to revitalize Detroit and turn it into delta city.

 

[Spungo]

Well I would invest in Omni consumer products. They are planning to revitalize Detroit and turn it into delta city.

"A lot of people can't afford to buy your stock!"

That's the whole point. Fewer stupid people making decisions = fewer stupid decisions (in theory).

 

[Jay5]

This is exactly the behavior I enjoy. Everyone is full of fear. Don't touch detroit! you guys say. As warren buffet says, when others are fearful, be greedy and when others are greedy, be fearful.

im sure warren buffet wouldnt bother investing in democrat ruined detroit either

 

[rednas]

im sure warren buffet wouldnt bother investing in democrat ruined detroit either

http://www.latimes.com/business/la-fi-mo-warren-buffett-detroit-investment-20131127-story.html

 

[jhu]

Buy a bulldozer

My FX8150 works great!

 

[Jay5]

They are planning to revitalize Detroit and turn it into delta city.

why bother,the democrats will just ruin it again

 

[Ruptga]

why bother,the democrats will just ruin it again

Yeah we get it, now fuck of to P&N where fanboys like you belong.

OP, did you seriously expect to get any relevant advice here? It seems to me than anyone shrewd enough to invest anything in that wasteland would be shrewd enough to not let anyone in on their plan.

 

[debian0001]

A lot of start ups are taking over downtown from what I hear.

 

[Squisher]

A lot of start ups are taking over downtown from what I hear.

With the developments that have gone on in the last few years so I can see why.

Fox theater refurbished
GM moving to the RenCen
Campus Martius and Compuware
Ford Field
Comerica Park
Cobo expansion

Now the Red Wings are building a new arena over by the ball park and the football field. Cool map is cool

 

[Wordplay]

Plans for the new arena were released today.

Squisher beat me to it.

As much work as they are putting into downtown/mid town, they really need to work on the neighborhoods.

 

[unokitty]

and how close is texas to mexico? ...

In geographical or temporal terms?

In temporal terms:
Prior to 1821, Texas was claimed by Spain.
Between 1821 and 1836 Texas was part of Mexico.
In 1836 Texas became a republic.

It became a republic, in large part, due to the influx of illegal Anglo immigrants...

Anyone think we can lure the Canadians into Detroit?

Uno

 

[Hacp]

Plans for the new arena were released today.

Squisher beat me to it.

As much work as they are putting into downtown/mid town, they really need to work on the neighborhoods.

What's wrong with tearing down the blight and keeping downtown?

 

[Hacp]

Plans for the new arena were released today.

Squisher beat me to it.

As much work as they are putting into downtown/mid town, they really need to work on the neighborhoods.

Looks like others with 20000x more money have the same idea as me. Sigh.

 

[Spungo]

What's wrong with tearing down the blight and keeping downtown?

Because racism. Anything that would fix Detroit is automatically racist.

Chinese are buying up Detroit as well. My inner racist has a lot of faith in them. From what I've seen, Chinese immigrants/investors don't put up with a lot of BS. They might be able to use their money and influence the fix the city somehow.

 

[poofyhairguy]

What's wrong with tearing down the blight and keeping downtown?

From what I understand its so much blight it would take years and cost way more than they have to spend which is nothing.