'Tis the cycle of Royal Oak. It gets passe', slips financially, rents drop, then cool and unusual shops move into the Main Street storefronts. Then people come there to check out the cool and unusual, money starts flowing, rents increase and then a) the cool and unusual shops can't afford to be on Main anymore and 2) the city starts worrying that they're projecting "the wrong image." Eventually, the cycle starts again.
This time around, it's complicated by the advent of the lofts that cropped up all over the place. Of course, with the economy the way it is, plenty of those are probably empty and likely to remain that way. I wonder if prices will drop and the faux lofts will turn into something more like real lofts, with artists using them as studios and such?
Those condos hare hideous. UGH. And yeah, last time I was in Detroit (which was years), they couldn't sell them then. I cannot imagine that they are selling any now.
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This time around, it's complicated by the advent of the lofts that cropped up all over the place. Of course, with the economy the way it is, plenty of those are probably empty and likely to remain that way. I wonder if prices will drop and the faux lofts will turn into something more like real lofts, with artists using them as studios and such?
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