[TurboState]

CRAZY stuff, 500-600K homes selling for under 150K. People buying up entire blocks for 50K. Homes in great high class neighborhoods around here selling for 30-50K. Pure insanity, homes on my street that were fetchin 350K aren't even getting 150K now.

http://news.yahoo.com/s/nm/20070319/ts_nm/usa_subprime_detroit_dc (broken link)

How bad can it get?

[Mi_Mom]

Depressing read.

[zygnoda]

You always look on the bright side huh? :|

[adler2u]

I have heard of this, people telling me of homes selling in michigan for these prices. Is this only in southern michigan? I am trying to sell a home on 50 ac in north michigan and getting some looking but not setting the world on fire.

[R7d61]

the worse the better

[Kingsnkali]

Michigan is forever cursed with the legacy big union tag. Dying Detroit and Flint are the future. Welfare checks will have to bounce before a new Michigan can rise from the ashes.

Meanwhile, just keep bleeding the remaining property owners with even higher taxes. Thousands are taking lifetime saving losses just to get out of the Union Utopia. Abandoned cities and neighborhoods must still pay for those high-quality schools! State employees must still get fat pay raises.

Maybe Michigan can charge a 10% escape tax to catch people leaving the state. That would bring in millions. Tell the Governor to stop those Michiganders from leaving at once.

[adler2u]

I hear you brother, just like they did the "permanent trailer lis plate" now what do they do for income? they are only ahead for 3 to 4 year then the trailer owner is making money. another scheem to get tomorrows dollars today.it only works for a short time then you are further behind

[bugbox]

I wonder why employees of the state of Michigan retain there jobs no matter what the economic conditions are. I have never known a state employee ever getting laid off,they just promote them and hire another one. Tax payer Services are the first things that get cut. The Dem Gov. gets her votes from teachers,fed,state,local gov employees,and unions. that's job security.

[Angel Bear]

I read the same article referenced in the initial post. It's mostly homes that are in Detroit, etc. that are going for less than cars, etc.

[bubbagirl]

I am not personally an employee of the state, however, both my aunt and sister are, both working in completely different areas and offices.

Previously, the state avoided lay offs among state workers by taking away 8 hours of pay every other pay period. Those are hours that did get worked, but, will never be compensated for. In addition, they have put on hiring freezes across the board with some exceptions. Nursing is a huge exception, but otherwise there are literally hundreds of positions open that will not get filled. My sister's office is down by 5 people and they absolutely will not fill those openings; the remaining workers have to take on the extra work themselves in order to make their deadlines. This is also true with the area my aunt works. She is a supervisor and has had 9 positions left open in her office, all of which will not befilled and the rest of the office is expected to keep up on the increased work load. Over the past year there have been positions filled because they had to; the hired workers are hired as "temp" status, make about $10/hr, get no benefits, and no promise of keeping a job. Currently, the state is looking at more options because they are facing more budget crisis due to the moving of jobs, moving of people, and overall lower revenue (that is a completely different topic). It has just been stated to my sister's office that they are looking at a complete government shutdown of all non-essential office for 30 day increments. Those days will not be compensated for for those that do get laid off. The only way that the budget crisis would have been avoided since the small business tax was put to bed would have been the 2% service tax, however, that was voted down. I know I honestly would have pitched in an extra 2% it if meant the difference between folks being laid off or not, but hey thats just me... and I run a business that operates as a service provider, so I know what kind of "strain" that would've put on businesses.

Not to be rude, but please get your facts correct before jumping to conclusions.