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Realistbear

Detroit Mansions Going For A Song As Motown Crashes

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http://www.msnbc.msn.com/id/11843382/

Detroit housing market feels car industry's chill

Amazing mansions still on sale for under $1 million

Sharon Epperson

Correspondent

DETROIT, Mich. - The housing market may be starting to cool off nationwide, but Detroit, Mich., has been feeling the chill for year. Recent layoffs in the struggling auto industry have left a very depressed real estate market. So what's on the market for under $1 million dollars may surprise you.

The beautifull 12k sq. ft. Italian Renaissance style mansion pictured is on the block for about 585k pounds--same price as a nice semi in the Old Kent Road? THe UK is also losing manufacturing jobs that will affect HPI.

The chances of a HPC crash in the US this year is almost 100%. It will have economic repercussions around the world. The UK and US have shared booms and busts together since WW2. Be warned.

A little closer to home:

http://www.boston.com/realestate/news/arti...lock/?page=full

Sellers literally put homes on the block

Amid softening market, auctions growing more popular, despite risks

By Kimberly Blanton, Globe Staff | March 14, 2006

Auctioneer Jerome Manning kicked off the bidding by enticing the prospective buyers with a review of the Boxford home's amenities.
Breaking News Alerts ''A beautiful home -- 5,200 square feet plus a barn," he told the packed crowd of real estate buyers and auction observers. He did not mention that it is pink, an uncommon color for a house. The first offer -- $300,000 -- came in, prompting a ''God bless you, sir" from Manning, who began coaxing bidders. The bids climbed, to $425,000 and then $437,500. ''$475 is what I like," Manning called out, eliciting an offer for $460,000. ''Is everybody satisfied?" he yelled. ''Sold for $460,000!"
Edited by Realistbear

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The beautifull 12k sq. ft. Italian Renaissance style mansion pictured is on the block for about 585k pounds--same price as a nice semi in the Old Kent Road?

Sorry? Which Old Kent Road are you referring to for the price of a Italianate Mansion? You couldn't possibly mean the arterial route with the flyover in SE1? London is insane.

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Detroit has some specific problems...

Shrinking Cities - Detroit

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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