Detroit home prices

[mittengal]

The article re cost of homes in Detroit was in the Seattle paper today. I think this is a good sign--the rest of the country may start to see Detroit in a new light. Many people work from home & can relocate anywhere.

[iheartthed]

Care to let us in on the secret of what the article said?

[Jimaz]

This might be the article: For affordable homes, Detroit ranks No. 1 [[from the Seattle Times).

[softailrider]

Long way from the glory days of the late 90's when Detroit home prices were going upwards as fast as any area in the country. Of course, I'll always believe that Rimco, buying everything in sight for a while, catapulted prices upwards.

[DetroitPlanner]

Rimco, buying everything in sight for a while, catapulted prices upwards.

And I believe hat KK's wreckless city management made the property drop far worse than it would than if we had to deal with job losses alone.

[mittengal]

No secret, iheartthed. A thread was posted Oct. 2 on this forum which gave a link to the article. I assumed everyone had read it.

[Relayer76]

Amazing homes at amazing prices. http://hlr.coldwellbanker.com/FullData.aspx
Places like the second and third listing on this link would go upwards of 500,000 in Toronto or Ottawa. A vacant lot in the far reaches of suburbia runs $150,000+ for a 50 X 100 foot lot. Although I haven't visited live yet, it seems that Detroit has huge lots in the older parts of the city. No other city that I know of is designed like that. I love the space - a city built for driving not walking as they say. Seems to me that Detroit needs a good marketing campaign - someone should want to buy there.

[n7hn]

supporting article gives some verbage

http://realestate.yahoo.com/promo/ca...ream-home.html

Least expensive city: Detroit


Average list price: $68,007
This home sells for: $75,000
Description: The most affordable place to own a solid middle-management home, according to Coldwell Banker, is Detroit.
Recession hit Detroit before just about anywhere else and the battered economy has bled jobs for years. That has resulted in a mass out-migration of residents, leaving behind a vast housing stock of very inexpensive, solid homes.
This home is located less than 10 miles north of downtown Detroit in a well-kept neighborhood of single-family houses and streets shaded by tall trees.
Inside, the home is in terrific condition and features beautiful details, such as arch doorways, fan lights, a fireplace and fine woodwork.

[fryar]

Many people work from home & can relocate anywhere.

It's also relevant, from my perspective, that the local airport is a hub for a major airline.

[Hermod]

And I believe hat KK's wreckless city management made the property drop far worse than it would than if we had to deal with job losses alone.

The proper adjective is "feckless"