Housing Market Revival is Key to Detroit’s Economic Recovery

(Source: Urban Institute)

A healthy housing market builds current residents’ wealth, attracts new residents, stabilizes neighborhoods, and generates revenue for local government. Although Detroit’s housing market has been plagued by weak demand, an oversupply of aging and dilapidated housing stock, and a lack of sufficient income and access to capital for potential homebuyers, emerging trends and innovative practices are moving the city toward greater economic recovery.

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