If it weren't for the immobility of building capital, Detroit would probably no longer exist. As is, it exists only because of the low level of demand for its buildings makes it the kind of place that the poor and desperate can afford to live, which further lowers the level of demand for its buildings.
Not even the homeless are moving into the city. The poor and desperate can't afford to leave. Sell your grandfather's house for 10k and go where? Once houses really become worthless, even more people will begin to walk away.
