It was the worst of times and it was even worse than that. A recent Case-Shiller housing report finally showed some hopeful signs recently. The report showed that housing prices for the second quarter of this year were up for the first time in three years for 18 of the 20 markets that were tracked. The two that were down? Detroit and Las Vegas.
The two markets were very much the same, yet so different. The same in that they are still showing price declines but the future outlook for each is like night and day.
Detroit
People are well aware of the problems facing the auto industry. With so much of the industry based in the Detroit area, is it any wonder that they are so severely impacted by this recession? The unemployment figures for July show that Detroit suffers the nation’s highest rate of joblessness at a whopping 28.9%. What happens when […]
Original post by Richard Warren and software by Elliott Back
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