Financial Times digs Motown's optimistic tune

Detroit's affordable real estate, diverse architectural styles and urban leadership won high praise from the Financial Times, with an article that digs deeper than statistics to interview several residents who couldn't be more optimistic about the city's progress. And though prices are still low around the city, one local real estate expert says the housing market is finally moving upward again.


Kelly Sweeney, chief executive officer of Coldwell Banker Weir Manuel, has been a local estate agent for 30 years and is convinced of an upward trend. "Because of the loss of manufacturing jobs, our market went into freefall well before the subprime crisis," he says. "But we reacted quickly to that, and we are in a better position now. And there has been some improvement in employment. Also, our inventory of bank-owned properties is going down."

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