I can just recall reading a thread a month ago on the reasons why someone should not invest in detroit right now. Could someone please reiterate those points again for me? or does someone know why we shouldnt invest right now? thanks

I posted a list of reasons not to.

Dont even think about it.

Things are looking rather dire in the Midwest,
and I am becoming interested in Cleveland, Detroit, and Chicago

Despite never having risen much since 2000, like another Midwest City (Detroit),
Cleveland Real Estate values have fallen sharply in the last 7 months, and it looks like
they may wipe out ALL THE GAINS since 2000 before long.

FALLS SINCE JUNE 2007 - various Cities:

mo.: +CSXR. / +S20R / Miami , SanFran. -NYC-, Boston, Chicago, Denver Detroit, Cleve.
jun. : 217.33 / 199.43 / 264.89, 209.48, 209.34, 171.29, 165.94, 138.09, 110.70, 118.33
dec : 200.73 / 185.01 / 231.71, 189.23, 202.32, 164.59, 160.03, 130.98, 103.30, 112.07
J.08: 196.06 / 180.65 / 225.40, 183.81, 200.49, 162.59, 156.47, 128.98, 100.17, 108.49
Chg.: - 9.8%/ - 9.4%/ -14.9%, -12.3%, -4.2%, - 5.1%, -5.7%, - 6.6%, - 9.5%, - 8.3%

The biggest monthly falls were in January, so it looks like 2008 may be the worst year yet.

CLEVELAND has been added to the Cities tracked on the Schiller index thread:
http://www.greenenergyinvestors.com/index.php?showtopic=2362

Thanks DrBubb, when are you thinking of buying in Cleveland and what type of property are you looking for?

It is the same in Florida and soon will be the same in California.

To buy in California at the bottom will be a much better deal than to buy in cities nobody wants to live in like Detroit.