COMPARATIVE BENCHMARKS... - as of June.2006 // per Money Magaziine

City.========. Population : Hse.Price : Income : Multiple : '05/'04 : Euro /1.xxx
Ann Arbor............. 113,300 : $230,000 : $ 77,669 : -- 2.96- : + 0.80% : Eur.xxx,xxx
Farmington Hills..... 80,200 : $245,000 : $ 97,726 : -- 2.51- : + 1.40% : Eur.xxx,xxx
West Bloomfield..... 65,000 : $281,650 :$115.676 : -- 2.43- : + 3.40% : Eur.xxx,xxx
Detroit.................. 913,577 : $ 69,900 : $ 37,805 : -- 1.85- : - 1.50% : Eur.xxx,xxx
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Eight City Average.210,640 : $171,443 : $69,775 : -- 2.46- : - 1.xxx : Eur.xxx,xxx
National Average.. xxx,xxx : $227,500 : $xx,xxx :
As % National Average...... : . 75.36%
Compare:
Salt Lake City, Utah 180,377: $199,500 : $49,845 : -- 4.00- : +13.70%:
Denver, Colorado..... 557,766: $225,000 : $51,492 : -- 4.37- : + 7.10%
Las Vegas, Nevada.. 560,775: $260,000 : $59,195 : -- 4.39- : +11.2%
Cambridge, Mass.... 102,740: $447,525 : $65,511 : -- 6.83- : + 2.90%
Clearwater, Florida... 112,033: $180,900 : $51,474 : -- 3.51- : +18.60%
Miami, Florida......... 378,914: $387,800 : $30,058 : - 12.61- : +21.60%
SanFrancisco, Cal... 734,587: $755,000 : $70,772 : - 10.67- : +14.0%

@: http://money.cnn.com/2006/08/15/real_estat...table/index.htm

Top Five- Best Cities to Live, in Michigan

Ann Arbor ....... **
Farmington Hills
Sterling Heights
Warren.............
West Bloomfield

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It is obvious from the comparative figures, that Michigan never experienced the wild boom that hit the Real Estate markets in places like: San Francisco, Miami, and Cambridge. The Median propert price to Income is less than half what it is in those apparent "bubble markets".

**Ann Arbor could be a very interesting market to investigate. With the well-known University of Michigan, it is the "Cambrdige of the Midwest"


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More: http://www.greenenergyinvestors.com/index.php?showtopic=1811

Friends of mine in the motor industry moved over to Ann Arbor about 10 years ago. I haven't been in touch with them recently but they were buying a few years ago and it was really tough, prices rising fast and properties being snapped up. Quite a lot of people from the higher layers of the motor industry live there so can imagine that they are experiencing tough times right now.

actually, i was born in detroit, and it is a long drive to ann arbor,
so iw ould be surprised if many auto execs live there.

it is easier to find them in:
+ bloomfield hills,
+ birmingham

my idea is: if detroit was the first to slide into a property recesssion, might it be the first out?
a weaker dollar, would make prices in euro terms much cheaper, and would also make us autos
more competitive.

but it may take at least 1-2 years, and maybe more, to get to a low in michigan