The Average House In Green City Detroit Costs $7,500
THE Chicago Tribune reports that the average price for a home sold in the month of December 2008 in Detroit was $7,500.
Yeah, why buy one in the world’s first green city?
The report:
“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.
Among the many dispiriting numbers that bleakly depict the decrepitude of this onetime industrial behemoth, the steep slide of housing values helps define the daunting challenge to anyone who wants to lead this shrinking, poverty-pocked city of about 800,000 people . . .
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” . . .
John Mogk, a professor at Wayne State University Law School: “A thousand people are leaving the city every month and the city does not have the financial resources and the economic base to solve its own problems.”
When does a city stop becoming a city?
Posted: 1st, March 2009 | In: Money Comments (6) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
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March 3rd, 2009 at 3:45 pm
…so he got stuffed then….?
March 2nd, 2009 at 12:11 pm
Interesting though, he polled only 103 votes so either he’s really popular and the population of Detroit has dropped more than they thought or he’s a turkey himself. He finished 13 out of 15 candidates
March 2nd, 2009 at 11:47 am
his wife wouldn’t be Mary, would she….?
March 2nd, 2009 at 11:39 am
Mayoral candidate Stanley Christmas? I hope he’s not relying on the turkey vote
March 1st, 2009 at 10:38 pm
After the bursting of the tulip bulb bubble that held the dot com boomers in loftier heights than their real world means actually allowed for you had this mortgage pyramid scheme ensconcing a nation of willing emperors in grand castles built on insolvent sand. I read of one immigrant garden worker, unable to speak a word of English and earning just 17k pa who got a 175k (or thereabouts) mortgage with nothing down, absolute lunacy, undoubtedly unsustainable and possibly premeditated.
Of course you do realise that the architects of the NWO global equality scheme did say that the circumstances of first world inhabitants would have to be reduced (coz it’s so much easier to level down than up when you are fashioning a new empire on a worldwide scale) in order for this socialist utopia to rise triumphant from the ashes of sovereign nationhood. You won’t have seen it, you won’t have signed it but it was there in black and white in the small print on appendix C of page 1117 of document #213418 entitled “Teehee They’ll Never Find it Here” held in basement C at 760 United Nations Plaza, New York, NY 10017, USA.
If da cap fit…
March 1st, 2009 at 8:26 pm
It is a nightmare over here. Small towns all over are becoming ‘ghost towns.’ Signs with the words “Foreclosure” or “Bank Sale” are on the doors and front lawns of homes, both large and small, more and more a normal to see as you drive around. Many people are not even waiting for a letter from their banks, they just mail the keys to the bank, pack up and move out. As Corporations layoff their workers or shut their doors people are going on unemployment, which might buy the family food for the month, welfare, State aid for health coverage, and some even take their own lives and some take the lives of their family members in despair!