Detroit housing market imploding
December 21, 2006
For as much as I liked our houses in Michigan, it doesn’t look like a good time to be there. I would really like to be back in our house in Ypsilanti, as it was nice (we’d just finished the basement and all that) but I fear that now, if we were back in Michigan and had to move for some reason, we’d be stuck. This article points out that 1 in 80 houses in metro Detroit started foreclosure proceedings *just* in Q3 of 2006. That’s an insane percentage, and doesn’t seem to be letting up any time soon.
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