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You Will Never Guess What the Median Home Price in Detroit is...

It's shocking.

The median price of a house in Detroit is $7,500. Yep, you read that right. $7,500.

Detroit is a city that has been run exclusively by Democrats for years. Hasn't worked out too well.


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Comments (23)

Holy crap! I live in the mi... (Below threshold)

Holy crap! I live in the middle of the desert with seemingly no water, and homes are WAY higher!

The party of Left is worthless, and is like a virus. It attaches on to something, drains it and moves on. Sadly they are now on the nation's wallet and drain it they are.

So, when ex-Detroit Mayor K... (Below threshold)

So, when ex-Detroit Mayor Kwame Kilpatrick moved to Texas where real estate prices are generally considered low, he took a beating on the move.

Wonder where he got the down payment.

(Snark aside, this is amazing and I had to check twice to make sure they hadn't dropped a zero -- as the Chicago Tribune article assured us it hadn't.)

This is similar to the case... (Below threshold)

This is similar to the case where a Sunday issue of the NYT is cheaper than a share of NYT stock.

From the link this quote:</... (Below threshold)

From the link this quote:

On a positive note, Detroit's homicide rate dropped 14 percent last year. That prompted mayoral candidate Stanley Christmas to tell the Detroit News recently, "I don't mean to be sarcastic, but there just isn't anyone left to kill" . . .

Wonder if he won?

I wouldnt live in that mini... (Below threshold)

I wouldnt live in that mini fallujah if I were paid 7500 to take one.

The liberals are as constuctive in a free economy as the palestinians...take,take ,take...destroy,destroy,destroy.

Its been like that for 30 y... (Below threshold)

Its been like that for 30 years. Not long after Mayor Coleman A. Young took over. The original case of white liberals basing their choice on identity politics without actually scrutinizing the person one bit.

To say this took decades is to soften what happened. In fact it recovered slightly under Dennis Archer and then slide again along with the rest of south east Michigan.

Pretty sure I paid more tha... (Below threshold)

Pretty sure I paid more than that for my last car!

Gotta hand it to those 'pro... (Below threshold)

Gotta hand it to those 'progressives' in Detroit. They certainly have made home-buying affordable. That is IF you have a job. But I'm sure if you get on the public dole, now that the rules are being loosened up, ACORN should be able to get you qualified. If they can't, they'll just drop a note to Barney Frank, Chris Dodd and Maxine Waters.

The number of home foreclos... (Below threshold)
Paul Hooson:

The number of home foreclosures has driven prices way down. You can buy homes for $3,500 in Flint, Michigan on Ebay for example because the unemployment from the auto industry is so bad..

There's actually plenty of money to be made here. You can pick up a few houses for very little money. Then hire some private contractor that works cheap to get these properties ready to rent. That sure beats looking for $1million dollar apartment buildings to buy somewhere else in the country as an investment property.

Instead of looking at this story as a political issue, look at it as a real estate opportunity and investment issue. Some people will emerge from this recession in strong condition, and those will be the wise investors.

Listen to Paul! He's one o... (Below threshold)

Listen to Paul! He's one of those evil capitalist pigs! How dare he take away homes from those poor people! I hope acorn does a sit in for all your properties!

I of course am kidding, but for Paul to spout capitalism is kinda shocking...given his support for Obama and Obama's war against capitalism...

The Detroit experiment fail... (Below threshold)

The Detroit experiment failed because it wasn't done on a large enough scale.

With the resources of the entire country, I'm sure the Democrats/Progressives will get it RIGHT this time.

/sarc, but just barely.

jpm100 says: it recovere... (Below threshold)

jpm100 says: it recovered slightly under Dennis Archer and then slide again along with the rest of south east Michigan. Still, Detroit's surrounding 'burbs have been comparatively vibrant, and it always shocked me to see how much housing was being developed there. The burbs are no doubt suffering from the declining auto industry, but not from the chronic mismanagement and wide array of urban pathologies typical of the city itself.

"The Detroit experiment fai... (Below threshold)

"The Detroit experiment failed because it wasn't done on a large enough scale."

So they moved it to Kaleefornia. Stay tuned, that big THUD! you're going to hear by the end of this year will not be an earthquake.

Home values are way down, industry is being regulated to death by the 'greenies', unemployment is over 10%, taxes are being raised for the next two years, unless the citizens vote a cap on state spending. Then the tax increase will be good for 4 years. Yep, another "Worker's Paradise". Soon as the wife retires, we're OUTTA HERE!

Paul, after paying city, co... (Below threshold)

Paul, after paying city, county, Small Business Tax, State Income Tax, Property Tax, casualty insurance and then if you have a business, Workman's Comp insurance and liability insurance in that city and state, you'll be lucky to take home anything.

Couldn't have been... (Below threshold)

Couldn't have been Hooson--post was way too short.

...or self-referencing.... (Below threshold)
James Cloninger:

...or self-referencing.

Detroit also hasn't had a R... (Below threshold)

Detroit also hasn't had a Republican mayor since 1950.

Detroit is a poster city fo... (Below threshold)

Detroit is a poster city for liberalism and why it doesn't work.

Paul, I think I've... (Below threshold)


I think I've seen your business model before:

Phase 1: Collect underpants. ( In your case, houses in Detroit.

Phase 2: ?

Phase 3: Profit.

Detroit is a poster city... (Below threshold)

Detroit is a poster city for liberalism and why it doesn't work.

You could also buttress your weak-assed assertion with Baltimore and Washington, D.C., among a few other "liberal" urban centres.

Anyway... all the great liberal cities of the world--Berlin, New York, London, Toronto, Stockholm, Prague, Geneva, Zurich, Vancouver, Amsterdam, Brussels, Paris, Tokyo, Seattle, Portland, Montreal, Oslo, etc. etc. etc.--cities where many of you couldn't afford a parking spot let alone a home--are also examples of what liberalism does to urban areas?

If that were the case, and if I were unfortunate enough to be living in some rotten uncultured suburban hell-hole, I would be hoping and praying that liberalism would be inflicted upon my town with great haste.

The demise of Detroit isn't a product of liberalism, but of globalization. As free market capitalists, you should applaud the fact that successful automakers know better than to build their product with a unionized American labour pool.

Geez, hyperbullshit, I naiv... (Below threshold)

Geez, hyperbullshit, I naively thought it may have to do with total city corruption?

I would buy there, but I couldn't afford the ammo. ;) ww

If corruption were the caus... (Below threshold)

If corruption were the cause, Willie, wouldn't homes in Chicago be more affordable?

Wow, ONE of my bathrooms is... (Below threshold)

Wow, ONE of my bathrooms is worth more then a whole house in Detroit.






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