Here's why millennials are flocking to Rust Belt real estate.
Key Points
States like Ohio, Michigan and Wisconsin are seeing an influx of younger buyers in search of more affordable living. "It is about having roots and contributing to the revival of a place that needs businesses that create jobs and create value,” an analyst told CNBC. There are many large homes in the Indian Village section of Detroit that are far more affordable than they would be in the major hot spots of the United States. The Detroit housing market faces changes as it tries to recover. Though there's still thousands of abandoned homes and businesses, there's been a rise in the sale of higher-end homes. There's also been a bit of a resurgence in the Downtown area.As real estate prices in major U.S.
For decades, the part of the U.S. otherwise known as the Rust Belt has been synonymous with hard times for decades, ever since manufacturing bases like Detroit began to suffer the effects of de-industrialization. Plants closed down, jobs disappeared, and once-vibrant cities became symbols of decay.an attractive investment bet. The overwhelming driver of the millennial shift to the region is affordability.
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