Originally Posted by
crawford
This is pretty major hyberbole.
Michigan has been shedding jobs for six years. Before that, it's unemployment rate was well below the national average. In fact, in 2000, Michigan's unemployment rate was half the national average.
More hyperbole. The CA housing market has collapsed, and has experienced far greater drops in valuation than in MI.
And a "ghetto" house in, let's say, LA, can be had for almost nothing. Even a brand new house in a working class suburb of LA can be had for around $100,000 [[and sometimes less in the Inland Empire).
In contrast, I guarantee you cannot find a single $200,000 house in Bloomfield Hills. Heck, I would be surprised if you could find a $300,000 home [[Bloomfield City proper, not Township).