Today, Mayor Mike Duggan says the values of homes have tripled in the past seven years. Duggan called it the "best investment in America."

The mayor says he doesn’t care what stock you bought – or what investment you own – there’s no way it tripled in value in the same amount.

Earlier this month a new real estate report by CoreLogic said the Motor City passed Miami as the fastest-appreciating housing market in the country.

Assessment notices have been mailed out to the city’s 408,000 residential, commercial, industrial, and personal property owners, letting them know about the proposed assessments for 2024. It’s important to note this is not a bill.