As Detroit home prices crash, sales are heating up. But with all of the plant closings and layoffs, who’s buying? Investors — some of whom are snapping up five and 10 houses at a time.
Keys: Economy, prices, real estate, investments
Questions for discussion:
- What does this article teach you about supply and demand and the change in real estate prices?
- Do you think these investors are smart in their thinking?
- Explain the conditions by which real estate ownership might eventually return to individual owners and residents in this market.
- Are these investors a negative or positive force in the local economy? Explain your answer.