Wow. According to the Chicago Tribune, as cited in the magazine The Week?

Wow. According to the Chicago Tribune, as cited in the magazine The Week . .. "The median price of homes sold in Detroit in December was $7500."

Wow .. . Now what? Asked by Pam_I_Am 34 months ago Similar questions: Wow Chicago Tribune cited magazine Week Arts > Books > Magazines.

Similar questions: Wow Chicago Tribune cited magazine Week.

Yes it is, and on a positive note, Detroit’s homicide rate dropped 14 percent last year. Median Home Price in Detroit = $7,500 By Barry Ritholtz - March 1st, 2009, 10:15AMHere is your utterly insane stat for the weekend:According to the Chicago Tribune, the median price for a home sold in the month of December 2008 in Motor City is Seven Thousand, Five Hundred dollars. I had to write it out that way because I simply couldn’t wrap my head around the numeral $7,500 for a home.

Granted, its in one of the most economically devastated regions of the country, but still — that data point is amazing. The Trib:“It may be tough to get financing for a new car these days, but in Detroit you can buy a house with a credit card. The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.

Not $75,000. Remove a zero—it’s seven thousand five hundred dollars, substantially less than the lowest-price car on the new-car market. Among the many dispiriting numbers that bleakly depict the decrepitude of this onetime industrial behemoth, the steep slide of housing values helps define the daunting challenge to anyone who wants to lead this shrinking, poverty-pocked city of about 800,000 people .. .

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” . .. John Mogk, a professor at Wayne State University Law School: “A thousand people are leaving the city every month and the city does not have the financial resources and the economic base to solve its own problems.

”Wow, those are just unbelievable numbers ... Sources: http://www.ritholtz.com/blog/2009/03/median-home-price-in-detroit-7500/ .

Detroit Home Sales As I mentioned in my discussion post, the figures are all relative. I think the problem is probably that there were few home sales in Detroit in December, 2008. That makes the median price not quite as shocking.

If only one or two homes were sold, then it's understandable that the median price was low. If they were nasty, re-po type houses, then the price would indeed, be low. I know that in Ingham county, the county next to mine, which includes the city of Lansing, the capital of Michigan, I heard that there were ZERO homes sold in one month recently.

Times are bad. Plus--this IS Michigan, and we do have very cold, snowy, icy winters--no one wants to move unless they have to in December. Most people wait until the summer, when the kids are out of school.In addition, I believe that most housing in Detroit is rental--it's your typical big city, with lots of apartments and rental homes, but most people don't want to live and own a home in the actual city of Detroit.

Most live in the very nice suburbs around the city--Auburn Bloomfield Redford, Southgate, etc. Detroit isn't "Michigan'--Detroit is just a city in Michigan with a pretty bad reputation. While things are not good in Detroit, and the whole state of Michigan, I think a statistic like this needs to be taken with a grain of salt. They might have left out a few details in the report, in a way to get more notice to the issue.

Poppet, answering from Mturk Sources: http://citylivingdetroit.com/05/ .

Remember, you get what you pay for! Economics 7500: If houses were equal, we’d all be in DetroitImagine the location of your house doesn’t matter, you want a modest three-bedroom home, and one bathroom will do. Just show me the house, you say.

The price should be about the same, right? No. In Denver, that house might cost $190,000.In Honolulu, $400,000.

Anything cheaper? Why yes.In Detroit, the average house is selling for $7,500. No kidding!

Much cheaper than a car. Obviously, construction costs don’t make that much difference. So other factors are at work.

Unseen features. If Detroit in 2009 had the same atmosphere as Denver or Honolulu or even 1959 Detroit, almost anyone shopping for a home would be moving into Detroit’s Woodward Avenue. But the neighborhoods, schools and crime rates of Detroit aren’t the same as other American cities.

The price is low because, right now, buyers see no reason to pay more. That’s how supply, demand and prices work. http://www.chicagotribune.com/news/nationworld/chi-detroit-housingjan29,0,5435392.story Sources: http://www.chicagotribune.com/news/nationworld/chi-detroit-housingjan29,0,5435392.story .

1 Bill Maher reported last month that the average Detroit home price was at $18,700. It must have gone down even more. Maher also reported that Chinese investors are being sent on trips to the US to buy homes here as investments.

What a mess.

Bill Maher reported last month that the average Detroit home price was at $18,700. It must have gone down even more. Maher also reported that Chinese investors are being sent on trips to the US to buy homes here as investments.

What a mess.

2 It's only going to get worse. This user has been banned from Askville.

" "Can I buy TIME & other special magazine offers in AUSTRALIA as they are cheaper than Aust magazines. " "Do you sell DENON CD Magazines-six-compact-disc magazine? Thank you.

Chicago tribune grade level reading comprehension.

Can I buy TIME & other special magazine offers in AUSTRALIA as they are cheaper than Aust magazines.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.