Realistbear Posted August 15, 2006 Share Posted August 15, 2006 http://www.usatoday.com/money/economy/hous...e-detroit_x.htm Detroit: Thousands of homes swamp the market Posted 8/15/2006 2:24 AM ET By Noelle Knox, USA TODAY When General Motors sneezes, the saying goes, the nation gets a cold. But now it looks as though U.S. automakers have the flu, and the Detroit real estate market is in intensive care. The symptoms: Nearly 7,000 homes, more than a year's worth, are up for sale; 7,422 homes in the county are in foreclosure (that figure swelled by 39% in July alone); and prices from January through June are down 6.6% from the same period last year. See picture of fairly decent detached house for $59k--£32k. When the cycle brings unemployment to our shores with greater force than the slight declines we have seen to date..... Quote Link to comment Share on other sites More sharing options...
Broken Fan Posted August 15, 2006 Share Posted August 15, 2006 http://www.usatoday.com/money/economy/hous...e-detroit_x.htm Detroit: Thousands of homes swamp the market Posted 8/15/2006 2:24 AM ET By Noelle Knox, USA TODAY When General Motors sneezes, the saying goes, the nation gets a cold. But now it looks as though U.S. automakers have the flu, and the Detroit real estate market is in intensive care. The symptoms: Nearly 7,000 homes, more than a year's worth, are up for sale; 7,422 homes in the county are in foreclosure (that figure swelled by 39% in July alone); and prices from January through June are down 6.6% from the same period last year. See picture of fairly decent detached house for $59k--£32k. When the cycle brings unemployment to our shores with greater force than the slight declines we have seen to date..... that big one is fairly saucy at 8.5 mill. And what exactly is 1/2 a bathroom. (I suppose 1/2 an american bathroom is about the same size as 3 brit ones, but whats in it) Quote Link to comment Share on other sites More sharing options...
Realistbear Posted August 15, 2006 Author Share Posted August 15, 2006 that big one is fairly saucy at 8.5 mill. And what exactly is 1/2 a bathroom. (I suppose 1/2 an american bathroom is about the same size as 3 brit ones, but whats in it) A "half bath" usually refers to a sink & kazi but without a shower/bath. Quote Link to comment Share on other sites More sharing options...
purplemonkey Posted August 15, 2006 Share Posted August 15, 2006 Detroit will soon turn around, we'll start seeing Detroit Property expo posters on traffic lights. UK investors love a bargin holiday home. Quote Link to comment Share on other sites More sharing options...
Scooter Posted August 15, 2006 Share Posted August 15, 2006 http://www.usatoday.com/money/economy/hous...e-detroit_x.htm Detroit: Thousands of homes swamp the market Posted 8/15/2006 2:24 AM ET By Noelle Knox, USA TODAY When General Motors sneezes, the saying goes, the nation gets a cold. But now it looks as though U.S. automakers have the flu, and the Detroit real estate market is in intensive care. The symptoms: Nearly 7,000 homes, more than a year's worth, are up for sale; 7,422 homes in the county are in foreclosure (that figure swelled by 39% in July alone); and prices from January through June are down 6.6% from the same period last year. See picture of fairly decent detached house for $59k--£32k. When the cycle brings unemployment to our shores with greater force than the slight declines we have seen to date..... Major downside is you have to live in Detroit to take advantage of the slump... Quote Link to comment Share on other sites More sharing options...
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