John Law, who recently purchased a vacation home in Detroit, echoes the sentiments of James Howard Kunstler and other experts in predicting that it's just a matter of time before places like Flint and Detroit become very desirable. After all, they've got water.
"Major demographic shifts take years, sometimes decades or longer. European Monarchies starved, bayonetted and repressed their subjects for centuries. They came here by the millions. It took a while. Corruption, terrible resource management and economic inequality in Latin America coupled with the promise of greater economic and political freedom here in the States has encouraged tens of millions to flood into our country in more recent times. The engines of America, places like Flint and Detroit and much of their fellow industrial cities in the East & Midwest froze up, sending millions packing to Texas, Arizona, California and to a lesser degree the Deep South. This process took thirty years and more. Phoenix, Vegas, El Paso, L.A. and most of the rest of the cities of the SouthWest will be ghost towns in twenty years if the hydrologists are right and the water tables sink to nothing and the drought ridden countryside ceases to provide water for reservoirs. If the hippies are right and global warming is real, where do you think those displaced by rising sea levels and unlivable climates will go? It's not rocket science to figure it out. They'll go where there is water and land. If you're thinking long term, now is the best time ever to buy in Detroit (or Flint.) Just ask the European and Asian investors who have started doing just that."UPDATE: J. Law adds: