Dunc,
Wanna answer me a question?
If the answer to factories closing and businesses failing is buying residential property, then why was the average price of residential property sold in Detroit in December $7,500 USD?
Maybe - just maybe - the state of the residential property market there reflected demographics, business conditions, and the wider economy of the area?
If you predict a future of mass unemployment and business failure, the answer is NOT to buy residential property as an investment. This is merely a leveraged play on how the bigger picture is doing.
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