Asked by Michiko M, CA, • Sun Oct 19, 2008
A client of mine exited the Detroit market due to her belief that GM's downturn will ultimately end up being the death of the City in terms of lost tax revenues (and other stuff like the raising of the property taxes and water bills to her mind.) To my belief, she nor I have enough historical or comparative perspective to understand whether that's to result in some major demise that would bar us from renting smaller homes for a profit (to my mind, a very solid investment strategy if you have good management) or to wait out for a better time in order to sell these homes to a homeowner in the future. What is the opinion out there?
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