Detroit Foreclosure Investors

The Detroit real estate market and Detroit foreclosures and the  is in many places in the news, all around the world. But just because you see something in print on Web, of course, doesn’t mean it’s true. Question the source. I read this article on The Denver Website (yes Colorado) about Detroit foreclosures. What do they know in Denver about foreclosures? They could know something: say they had a source here or had a writer who had just moved from Detroit. But they don’t know.

Some of the generic things they say had a strain of truth (Detroit has seen more unemployment than the rest of the country) but then they start throwing in assumptions that are stupid, simplistic half-truths (the area’s unemployment is due to layoff’s from one company, Ford–yea right) to weird phrases a Detroiter would not recognize (the 30th Street area, a couple of miles from City Center–this area is NOT called “City Center” and their is no “30th Street area”).

Basically, know your source.