Real estate market at Michigan?

[Dr.Jim]

Yeah,.....if you are living in the basement, then it is moreso like you are offering a "room for rent" in your house.

The kind of stuff horror movies are made of.

[London Girl]

Originally Posted by suydam

Yes, I think it probably does.

I don't know you, of course...maybe you're really cool and fun, or incredibly attractive... but the thought of my landlord living in the basement would give me the heebie-jeebies.

Me too Suydam!!!!!!!!!!!!!!!!!!!!!!!!!!!

[nomccainforme]

Not true that home sales are bad all over the us. Texas,wyoming,Washington state, Arkansas,and parts of South Carolina are doing well or booming. This is because of warm weather and Oil jobs.
Michigan is in the lead for home value drop, True florida and cal. are dropping but they were at all time highs, in cal, a home that would sell for 150k in Michigan was 750k in cal, in florida around 275k, They needed to drop to come into line. Michigan has an auto based economy plain and simple, ture grand rapids is a bit out of the loup here but the state as a whole is not going to come back on tourisim, not going to happen.
If you buy a home in Michigan you are going to sit on it for a very long time, Now most economists are talking the D word, Bush who is 4 years behind the current events, is just now comming into the opinion that we may be having a bit of a hard time in the economy. STFU bush and have another beer.
If you have $ I would not spend it in michigan unless you want to live there and have a very secure job and or outside source of $ income.
The last time this happened Michigan took from 1978 to 1992 to to start to make a come back and this was only becasue oil dropped to 9$ a bbl.
I would not look for this to happen any time soon. If you are betting on that to happen I would say your odds are much better on powerball.

[suydam]

Originally Posted by nomccainforme

Not true that home sales are bad all over the us. Texas,wyoming,Washington state, Arkansas,and parts of South Carolina are doing well or booming. This is because of warm weather and Oil jobs.

Home values for the US (the entire country) are down 23.8% year-over-year.
The West (-29.2%) and the Northeast (-26.4%) have it worst. Worse even than the Midwest.

In that same period of time, sale prices for the US (the entire country) are down 8.2% year-over-year. Only the northeast (+0.4%) shows an increase. The West (-13.4%) and the South (-8.6%) have it worst.

In that same period of time, prices in Detroit metro are off 13.8%. That is bad, but not as bad as Ft. Myers, Florida; Jackson, Mississippi; Riverside, California; Sacranento, California or Yakima, Washington and only 0.7% worse than metro Los Angeles (-13.1%) and Las Vegas (-13.0%)

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