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It is with a heavy heart that we have decided to retire our beloved Forum Detroit. It has served the Polonia Detroit for over 10 years, and was a source of joy for many. However, after many months of inactivity, the time has come to bid it farewell.
Deepest and warmest thanks to all those who contributed to Forum discussions over the years, either by sharing their thoughts or reading those of others. Your presence and participation served as a building block of this online polish community.
Detroit auto know-how, as well as the city's cheap real estate, is a draw to Chinese investment. The amount is relatively modest, and Chinese companies aren't talking yet about making cars here. But that could change.
Detroit, broke with almost no prospects for recovery, is the fourth most popular U.S. destination for Chinese real estate investors.
And it was bad news -- the city's July 18 bankruptcy filing -- that triggered renewed interest. "While the bankruptcy is viewed as a bad thing elsewhere, it raised the exposure level of Detroit's real estate market in China," says Evonne Xu, a Michigan attorney catering to Chinese purchasers. Middle Kingdom, meet Motown.
Chinese shoppers can't resist a bargain. Where else can you buy a two-story home in the U.S. for $39? China Central Television, the state broadcaster, in March reported that two houses in Detroit cost the same as a pair of leather shoes. No wonder a poster on Sina Weibo, the Twitter-like service, pitched, "Seven-hundred thousand people, quiet, clean air, no pollution, democracy -- what are you waiting for?"