There is no question that the residential housing market in Detroit suffered considerably over the past couple of years. As the saying goes, when the America catches a cold, Detroit gets the flu. The many empty structures sprinkled all over Detroit are evidence of this. In the aftermath of the housing crisis, we should make sure that we learn from our mistakes and travel ahead more wisely. Never let a obstacle turn to waste -- for every obstacle, there is opportunity.

What put us in this terrible mortgage problem was unnecessary mortgages. Immoral lending companies were approving mortgage loans to people based on Detroit unlawful mortgage loan rates. After a year, the Detroit mortgage rates would go back up to what they should have been, leaving property owners mortgages that they could not pay. That is how we got into this real estate problem - unlawful mortgages. So how do we get out of this real estate mess? lenders adhering to Detroit subprime home loan rates.

The housing market greatly needs an push from home buyers who are able to take advantage of Detroit prime mortgage rates that are available. Housing investors are trying to fill the gap left by first-time homeowners. Housing investors want to flip destroyed properties and repair them in hopes of selling the properties to first-time buyers. The reason this is not working effectively is two-fold. Firs, first-time buyers tend to avoid flipped homes from questionable sellers. Instead, they are researching for move-in ready properties that are a bargain. Secondly, all home buyers in general are snake-bitten from the constant dreary news of the housing market. If they themselves were not personally affected by the mortgage crisis, they know someone who was. Many prime home buyers are waiting for the crisis to subside, not understanding that the time may be now.

Regulations on housing laws have increased tremendously in recent months. Prospective buyers seeking to invest in real estate in Detroit but are not yet qualified to do so, financially, can find help on what it will take for them to be a property buyer, but they will discover that with the FHA operating under updated and better rules, they will be rejected. Conversely, qualified home buyers should have confidence in their ability to purchase a home and pay their mortgage successfully because Detroit FHA mortgages are currently modified to get prime buyers in homes.

In many occurences, people in Detroit who are looking to invest in properties will find real, federally-mandated, mortgage loan rates that are modified to invite them to participate in the American Dream. As we rebuild from this gloom, prime mortgage applicants will discover that home ownership is within their grasp. They only have to reach out and take it.

Detroit desperately needs its vacant properties filled. When Detroit is doing well, America is doing great.