Monday, March 2, 2009

$7,500 Houses – Detroit’s Pain

According to a story in the Chicago Tribune, the median price for homes sold in Detroit was a whopping $7,500. For that amount of money, one would have a hard time purchasing a small travel trailer. If true, it is hard to imagine Detroit rebounding in the next 50 years. With property prices in the tank, they will not be able to generate tax revenues to support their population's needs.




No comments: