Housing Shortage in Detroit? Did They Say “Detroit”?

Citiwire.com of June 30, 2012, reports that — believe it or not — there is a shortage of housing in Detroit — rental housing, that is. Evidently, the still habitable multiple-unit┬áhousing stock is in demand by young people who are moving in and want cheap┬árental housing, so the availablility of $75,000 good homes in stable areas is of no interest to them. They want to rent because in spite of a few positive developments there isn’t much confidence in Detroit’s future. Still, Quicken Loans, Blue Cross, and Compuware have moved some 9000 employees into Detroit, and these folks have to live somewhere. Click on http://citiwire.net/columns/housing-shortages-in-detroit/