Detroit has been characterized by a declining population, increasing poverty and unemployment rates, and increasing vacancy rates. But the city has experienced modest economic growth in the job and real estate markets in recent years. Property sales, sales price per square foot, and investment and permit activity in commercial, industrial, multifamily, and institutional properties have all been increasing, yet are far from their peak. Activity in these sectors has been concentrated in the Greater Downtown area, which has hosted a disproportionate number and total dollar volume of projects relative to the number of jobs located in those areas.
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