From its days as a frontier outpost to its heyday as America’s “Motor City,” Detroit has always represented a vivid piece of the American tapestry. The largest city in Michigan and home to four Fortune 500 companies, four major professional sports franchises, and nearly 4.5 million metropolitan residents, Detroit remains an economic juggernaut.
Economically, the state of Michigan ranks third overall in overall research and development expenditures, and Detroit represents the nexus of this economic activity. The metro-area is one of the nation’s largest employment centers for engineering, advanced manufacturing and occupations related to the American auto industry.
Detroit’s housing market has tracked the city’s decline and resurgence. It currently ranks among the top 3 most affordable housing markets in the United States, and the metropolitan area is projected to be the nation’s third strongest housing market by 2014, according to the Case-Shiller index.