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.