Check out the S&P/Case-Shiller Home Indices
I was shocked (barely) to see that of all these markets Detroit has the lowest housing prices, the average I believe was indicated at approximately $120,000. Its pretty weird to look at a place like Chicago and see how much their houses are going for and they are right up the road, they are at approx. $170,000. Now Miami is at $275,000 and that's a whole different market. Detroit is like the old veteran in the NBA and his name sounds good, everybody recognizes him, and it seems like a good idea to have him on your team but in actuality he can't play anymore. Its like having Chris Webber on the Pistons in 2007, oh wait that actually happened, oops. This is not fact but if you ask someone in Charlotte or any other city what they think of Detroit they are going to say motor city, car industry, or auto mecca, something along those lines. Well that would have been a good answer about 10 years ago but that might not hold much water today. A little further research indicates that you can have your pick at a myriad of houses going for around $75,000 and I am no expert but that seems a little low, some cars are more than that. Don't everyone rush to your nearest real estate agent at once, there are plenty of houses to go around for sale.
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