Detroit's outlook falls along with home prices
Motor City on the brink of bankruptcy, but still 15 people want to be mayor
By Tim Jones | Tribune correspondent
January 29, 2009
DETROIT — It may be tough to get financing for a new car these days, but in Detroit you can buy a house with a credit card.
The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.
Not $75,000. Remove a zero—it's seven thousand five hundred dollars, substantially less than the lowest-price car on the new-car market.
Link to Chicago Tribune article
There are many jokes that coulb be made but seriously, this just saddens me. People were talking about this on the radio and reporting that there are many burned down abandoned houses in Detroit that are just left vacant.
Also from the article:
On a positive note, Detroit's homicide rate dropped 14 percent last year. That prompted mayoral candidate Stanley Christmas to tell the Detroit News recently, "I don't mean to be sarcastic, but there just isn't anyone left to kill."