This 18-Mile Road Trip Is the Best Way To Experience Detroit In One Day

Are you eager to experience all the joys of Detroit, but don’t have much time to spend in the city? We’ve got you covered. Whether you’re seeking a history lesson, an outdoor adventure with scenic elements, delicious local fare, or some combination of these, our one-day Detroit road trip will take you to some of the most iconic and beloved sites in the Motor City. Round up a few adventurous pals, hop in the car, and get ready to fall in love with Detroit.

For an adjustable map of our Detroit road trip route, click here.

So, there you have it: our one-day road trip through Detroit, complete with a variety of attractions for every member of the family. Have you visited any of the stops on our Motor City road trip during previous visits to the area? Share your favorites with us by leaving a Facebook comment or recommend another must-see destination in Detroit by filling out our nomination form here.

If you prefer outdoor adventure, you’ll want to read about these underrated state parks around Detroit.

The post This 18-Mile Road Trip Is the Best Way To Experience Detroit In One Day appeared first on Only In Your State.

Owning Is More Affordable than Renting in the Majority of the Country

Owning Is More Affordable than Renting in the Majority of the Country | Simplifying The Market

If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says:

“. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion of average local wages than renting.”

Other experts in the industry offer additional perspectives on renting today. In the latest Single-Family Rent Index from CoreLogic, single-family rent saw the fastest year-over-year growth in over 16 years when comparing data for November each year (see graph below):

Owning Is More Affordable than Renting in the Majority of the Country | Simplifying The Market

Molly Boesel, Principal Economist at CoreLogic, stresses the importance of what the data shows:

Single-family rent growth hit its sixth consecutive record high. . . . Annual rent growth . . . was more than three times that of a year earlier. Rent growth should continue to be robust in the near term, especially as the labor market continues to improve.”

What Does This Mean for You?

While it’s true home prices and mortgage rates are rising, so are monthly rents. As a prospective buyer, rising rates and prices shouldn’t be enough to keep you on the sideline, though. As the chart above shows, rents are skyrocketing. The big difference is, when you rent, that rising cost benefits your landlord’s investment strategy, but it doesn’t deliver any sort of return for you.

In contrast, when you buy a home, your monthly mortgage payment serves as a form of forced savings. Over time, as you pay down your loan and as home values rise, you’re building equity (and by extension, your own net worth). Not to mention, you’ll lock in your mortgage payment for the duration of your loan (typically 15 to 30 years) and give yourself a stable and reliable monthly payment.

When asking yourself if you should keep renting or if it’s time to buy, think about what Todd Teta, Chief Product Officer at ATTOM Data, says:

“. . . Home ownership still remains the more affordable option for average workers in a majority of the country because it still takes up a smaller portion of their pay.”  

If buying takes up a smaller portion of your pay and has benefits renting can’t provide, the question really becomes: is renting really worth it?

Bottom Line

If you’re weighing your options between renting and buying, it’s important to look at the full picture. While buying a home can feel like a daunting process, having a trusted advisor on your side is key. Work with an agent to explore your options so you can learn more about the benefits of homeownership today.

A Ballroom Was Built And Left To Decay In The Middle Of Michigan’s Largest City

It’s no secret that many cities in Michigan, Detroit in particular, are home to abandoned buildings. After all, history doesn’t treat every destination with kindness – and some of the most stunning constructions ultimately fall into disrepair. One such spot here in the Great Lakes State is especially fascinating, as it once served as a popular site for live music, dancing, and other performances. This abandoned ballroom in Michigan will absolutely intrigue you.

Did you have the opportunity to attend a show or two at the Grande Ballroom during its years as a rock venue? Were any of your ancestors known to visit the spot in its earliest years? Share your memories and stories of this abandoned ballroom in Michigan with us by leaving a Facebook comment or recommend another history-rich destination in the state by completing our nomination form here.

Searching for more history-rich spots? You’ll want to follow our Michigan landmarks road trip.

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Most People Have No Idea Just How Unique This Village Near Detroit Truly Is

You’ve heard of New York’s iconic Brooklyn, but did you know that Michigan is home to its very own Brooklyn – and it’s easily accessible from the Motor City? When you’re in the mood for an adventure that brings together history, nature, and true small-town charm, this spot will surely impress. Round up a few loved ones, hop in the car, and get ready to explore the most unique village near Detroit.

For additional information about this unique village near Detroit and the many facets that set it apart, click here. Have you and your loved ones strolled through downtown, visited a nearby lake, or simply appreciated the quaint and quiet atmosphere of Brooklyn? Share your memories with us by leaving a Facebook comment or recommend another great day trip by filling out our nomination form here.

Looking for another great place to explore with family? Read about these seven sleepy small towns near Detroit.

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