I’m in Detroit for the fantastic Creative Cities Summit taking place over the next few days. Detroit is the center of modern musical innovation giving rise to genre upon genre from the proto-punk of the MC5 and The Stooges, to Motown, techno, and, of course, Kid Rock, Eminem, and The White Stripes among so many others.
It is now one of the most affordable cities around. According to this story in the local paper, the median price for a house or condo sold in Detroit in September 2008 was less than $10,000 ($9,250). In affluent Oakland County, which boasted some of the most expensive real estate in the world when I was a boy, the median price is $132,000. That could be turned into a powerful lure in this era of financial turmoil, authenticity, and frugality.
Tags: Creative Cities Summit, Detroit, Eminem, Kid Rock, MC5, Stooges, The White Stripes
October 14th, 2008 at 9:11 pm
I think you meant Detroit *is* one of the most affordable cities around?
$10,000 home prices are indicative of a place lacking in a functioning property market–great for artists, but perhaps less appealing to others. At those prices, though, why not buy three or four, or ten?
October 15th, 2008 at 6:12 pm
Affordability is a great lure for the struggling artists, certainly. Lack of affordability has pushed many creatives all over New York City, fleeing gentrification and its rise in prices. Now some are living in Philly (the “sixth borough”) and taking the train up to The City one or more times a week for meetings and events.
But affordability isn’t the only thing. In an interview, Jack White and his new band discussed the reasons they moved from Detroit to Nashville. They got tired of the “toxic” feelings in the music community which sapped their creativity, and they also tired of the crime. They said Nashville has a music culture much more welcoming to their style and work.
Perhaps Detroit’s vibe will be more welcoming and inclusive when its economy stabilizes. A little money in people’s pockets makes them feel much more generous.
But overall, I would say that affordability is the major reason that creatives move to establish a new beachhead, so I’m bullish on Detroit over the long run.
b.