GotApex? Forums - View Single Post - The median price of a home sold in Detroit in December was $7,500

Jeffbx · 03-04-2009, 07:58 AM

Jut to clarify a couple of points:

1) The City Detroit is a smoking hole, for the most part. I can absolutely believe the median cost a house in the city is that low, because there are literally thousands of abandoned properties that can be had for free, if you just agree to pay the property tax. The city just hasn't gotten off of its a$$ & torn them down. In any case, it is NOT an area that anyone wants to live. Yes, there are nice areas where it's OK, but no one "moves to Detroit" and buys a house in the city.

2) The City of Detroit <> the auto industry. Yes, the 3 major companies were founded in the Detroit area, but only GM is headquarted there, and a majority of the workers commute into the city. The media loves to put them hand in hand, but it's really not the case anymore. The people who are working for automotive all live in the suburbs - primarily Oakland county (median home value $178k and dropping rapidly)

03-04-2009, 07:58 AM	#8
Jeffbx Fleet Admiral Join Date: Mar 2000 Location: Michigan Posts: 9,390	Jut to clarify a couple of points: 1) The City Detroit is a smoking hole, for the most part. I can absolutely believe the median cost a house in the city is that low, because there are literally thousands of abandoned properties that can be had for free, if you just agree to pay the property tax. The city just hasn't gotten off of its a$$ & torn them down. In any case, it is NOT an area that anyone wants to live. Yes, there are nice areas where it's OK, but no one "moves to Detroit" and buys a house in the city. 2) The City of Detroit <> the auto industry. Yes, the 3 major companies were founded in the Detroit area, but only GM is headquarted there, and a majority of the workers commute into the city. The media loves to put them hand in hand, but it's really not the case anymore. The people who are working for automotive all live in the suburbs - primarily Oakland county (median home value $178k and dropping rapidly)