The average home in Detroit is selling for under $14,000. Detroit’s decling population explains most of its real estate prices. Detroit proper’s population is about 900,000. During its hey-day in the 1950s, Detroit had a population greater than 1.8 million people.
It may be in he cities best interest to begin catering the growing retirement industry. The shift would increase the service revenues (especially the medical industry) of the area and help offset its declining manufacturing industry. It would be beneficial to retirees as well. Detroit has a comparibly low cost of living.