Richard Green is a professor in the Sol Price School of Public Policy and the Marshall School of Business at the University of Southern California.
This blog will feature commentary on the current state of housing, commercial real estate, mortgage finance, and urban development around the world. It may also at times have ruminations about graduate business education.
Monday, September 21, 2009
Has the Detroit Housing Market Disappeared?
I was looking at the NAR median house price series for metropolitan areas today, and noticed the following line for Detroit:
19820
Detroit-Warren-Livonia, MI
151.7
140.3
N/A
N/A
N/A
N/A
N/A
N/A
N/A
The first two numbers are median prices for 2006 and 2007. 2008 and after: zip.
With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. There is a website which builds and manages profitablereal estate investment portfolios for its clients through investments in Highly Profitable Foreclosure Homes and REOs.
With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. There is a website which builds and manages profitablereal estate investment portfolios for its clients through investments in Highly Profitable Foreclosure Homes and REOs.
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