I know Frank wrote a lengthy newsletter about buying in Michigan, and i feel comfortable buying on the western half and Northern Michigan as he states, but is there any reason to not buy in Detroit Metro if all of the metrics check out on bestplaces etc.?
Frank posted that you cant throw out St Louis Metro because of East St Louis but I still worry about being over reliant on the auto industry. In this county (Oakland County) of the top 10 employers, number 2, 3 and 9 are auto related. Deal killer?
I see MHP great advantage as being recession resistant/proof.
One way to think about it that makes me feel better is in a metro of 2million+ if i lost my minimum wage job there would be a lot of opportunities to still get another job.
Also, Park owner is willing to possibly finance which is ideal but in case he changes his mind, WHAT IF i had to refinance in Michigan and it was during a recession?
So two issues really, auto reliance and financing in Detroit metro in a downturn.
Thanks!