top 10 real estate merkets (projected)

http://realestate.yahoo.com/promo/ho...ongest-by-2014

3. Michigan

Biggest home price increase projected in 2014: Detroit-Livonia-Dearborn metro

Forecast 4-year price increase: 33.1 percent
Current median price: $51,000
Prices to reach trough in: 2011 Q2
Median family income: $54,400
Population: 1,925,850

Since reaching a peak in 2006, home prices in the Detroit area have fallen 60.5 percent, according to the Fiserv Case-Shiller Indexes. As homes have become more affordable—the median home price in Detroit is lower than median family income—demand is expected to pick up. Prices are forecast to jump 33.1 percent over the next four years. George Moma, a broker with Century 21 Dupont Realtors, says the growing prevalence of short sales over foreclosures will help drive up the median price in the Detroit metro area. He adds that the area is attracting interest among international investors from the U.K., Dubai, Moscow, India, Ireland, and France.
Index used to calculate historical home price changes: Case-Shiller




Nice to see another kind of press for Detroit, but Im sure some will disagree .......

What's a "merket"?

opportunity for public ridicule Id say...... :D

http://upload.wikimedia.org/wikipedi...at_feb_09.jpg]
Meerkat

But seriously this doesn't surprise me. When I told my financial guys in Phoenix that I was moving to the Detroit area they got all excited about the unique real estate opportunities here. I got the impression that those types have no doubt that Detroit will bounce back -- it's just a question of when.

Quote:

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Originally Posted by n7hn

He adds that the area is attracting interest among international investors from the U.K., Dubai, Moscow, India, Ireland, and France.

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This is wild, but scary. Foreign investors can really drive up prices; that's part of the problem with NYC and SoCal. I hope the housing market doesn't rise too much before I'm ready to take the plunge this upcoming year...