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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: piggington who wrote (28094)3/12/2005 1:24:07 PM
From: orkriousRead Replies (2) of 306849
 
here is the wee Ork in question located?

the detroit suburbs.

the RE market here in no way resembles the coastal bubble areas. in fact, there are areas here that have had no appreciation at all for the last three years.

there are only pockets here that have done well, and even then, 40% in the last three years is chicken feed compared to CA and FL. however, I think that we are likely to be hit as close to as hard as other bubble areas.

although the detroit economy is no where near as dependent on the auto companies as it was 25 years ago, when the car companies stop producing cars no one needs unless they give them away to make money on financing, and easy housing credit disappears, RE here is going to get crushed.
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