Detroit may be bankrupt, but the city is full of opportunities for real estate investors, according to one expert.
“The local economy, despite the fact of course there was a huge bankruptcy, is improving relative to the rest of the country. So it’s almost like it can’t get any worse,” said Tim Rood, partner at the Collingwood Group, an investment advisory firm.
The Motor City is one of Rood’s top five real estate markets to invest in based on actual home prices, asking prices foreclosure rates and other factors. Atlanta, Ft. Lauderdale, Portland, and San Francisco are also some of the top real estate markets, according to Rood.