Friday, August 26, 2005

Detroit Market Stagnant

Those of us on the west coast may be fearful that the housing market might return to normalcy, but back in Detroit, they've really got real issues. A new report finds that the metro area is one of 15 of the riskiest areas for falling home prices. Check out this story by R.J. King of The Detroit News:
Metro Detroit's housing market has just one thing in common with white-hot real estate in other U.S. cities -- the bottom could fall out in the near future.

Unlike San Francisco or Tampa, Fla., however, where rapidly escalating prices have created fear of a housing bubble that might burst, Metro Detroit home prices are in danger of going from stagnant to rapidly declining.
Find the full story at this link.

— The Boy in the Big Housing Bubble