For the last year, we have all heard about Detroit's bankruptcy, how the city has lost half its population, how they are planning to tear down thousands of abandoned homes.
While all this is true for now, I predict that Detroit will have a major rebirth during the next 10-20 years. Since the real estate market is so down, this means that people will be able to get great deals on places to live and places to start new businesses.
Detroit has major infrastructure in place, such as airports, railroad lines and the big plus of being located on the great lakes, which means they will never have the kinds of water shortages that have been a problem for other parts of the country.
The auto industry will not come back, but other kinds of businesses will see this as a great opportunity. Real estate developers will see this as a great opportunity. People who like the excitement of being urban pioneers will see this as a great opportunity. The will of people to make things happen will create a whole new city rising from the ashes of what used to be.
After hearing all the bad news about Detroit, I felt a strong sense that things will turn around and there is much positive news up ahead. When you get to the bottom, all you can do is bounce back up.
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