Tuesday, March 20, 2007

Houses Cheaper Than Cars in Detroit

Yikes!

"At least 16 Detroit houses up for sale on Sunday sold for less than the $29,000 it costs to buy the average new car." Read more here.

2 Comments:

At 3/21/2007 7:28 AM, Anonymous Frank said...

No great surprise there--you can drive a car out of Detroit much easier than you can move a house out of Detroit.

 
At 3/28/2007 11:36 PM, Anonymous Anonymous said...

$29,000 for a house in Detroit? That sounds VERY expensive & part of the bubble frenzy to me!

When I lived in Detroit in the mid to late 80's, you could EASILY get a house for under $10k. I had personally seen some houses sell for as little as $4,000. Admittedly, they were in poor condition (but livable) and were in bad neighborhoods. Of course, all neighborhoods in Detroit range on a scale from insanely terrible to marginal at best.

An UNBELIEVABLE amount of wealth & property has been destroyed in Detroit over the past 40 years. It is one of the great untold stories of our time.

 

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