Business owners in Detroit, Michigan, would agree that when businesses do not make profits, the real estate market feels the impact of the slump. This is because the dip in profits leads a business to trim operations and adopt austerity measures that lead to the vacating of any excess commercial real estate it might be occupying for carrying out its business operations. The opposite of this also is true when the economy of a city or state is on the upswing.
Thankfully, encouraging news has gradually started coming in from certain parts of the greater Detroit metropolitan area. According to recent news reports, commercial real estate occupancy in Ferndale has risen significantly. Latest figures state that the vacancy rate in downtown Ferndale is now at only two percent, as compared to 30 percent in the year 2000. The outskirts of the city showed positive signs too, with vacancy rates of only four percent.