Encouraging signs.
Despite the popular narrative, Detroit is a nicer place to live now than it has been in decades. There are places to buy good food, local retail, decent housing, a budding restaurant culture, etc. Of course this is limited to a few neighborhoods, but you have to start somewhere. I lived in Detroit from late 2007 until about two months ago (still work in the city), and it's not even a similar place to what it was when I first moved in. Development is accelerating (see here, for example), although not yet to the point where public subsidies aren't required. Apparently about $200/sqft is needed as a residential sale price in order for developers to be self-sustaining. I recently sold my condo for $188/sqft, so it's getting there.
There is an independent theater open on Cass now for the unfamiliar here is a street view map http://cinemadetroit.com/ which in my opinion is at least indicative of change. I don't live in the city, but I live close enough where this stuff effects me so I'm happy to see the narrative changing.
So I've heard. It was a bit surprising to me that the process for reclaiming abandoned residences was still in its early stages. That's quick capital for someone -- bank, municipality, whoever -- and a cheap place to live for someone else. And, yeah, obviously a lot of those places are really nice for the auction price you'll get. Urban Detroit's not a bad idea for a young family or a couple of empty nesters looking to downgrade.
I just spent a month and a half in Detroit, and I have to say, the standout emotion was optimism from the people I met, all of whom spanned the socioeconomic spectrum: president, CEO, and VPs of the Detroit YMCA (not exactly landed gentry, but well-off), the middle class neighbors we had near our housing, and the families of the elementary school kids we were tutoring which were in the poorest neighborhoods. I guess optimism is only natural after you hit absolute rock bottom five or six years ago and all but the most resolute left the city. I hear "there's nowhere to go but up" quite a few times. If someone really liked their grandkiddies, they would be buying up property in Detroit and holding onto it, it seems that things are going to improve, and moderately more intelligently after the wisening-up the city's getting from this bankruptcy ordeal.