July 28th, 2008
Via Galley Friend B.W. comes this amazing stat on home prices in Detroit. Don’t click just yet.
First, if I told you that mean home price in 2003 was $97,850, what would you guess mean home price in Detroit was today?
If you guessed $19,448, you’d be the big winner.
As one of the commenters asks, “How low do house prices have to drop in Detroit before it pays to gut them for their parts?”
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