Want a Second Home for the Price of a Scooter? Try Detroit
In a Chicago Tribune article about the 15 (!!) people who are seeking to become Detroit's mayor, there is this little nugget:
The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.
Not $75,000. Remove a zero—it's seven thousand five hundred dollars, substantially less than the lowest-price car on the new-car market
The city's bond rating is now at junk status, and when one mayoral candidate was asked to explain a 14 percent drop in the murder rate, he said, "I don't mean to be sarcastic, but there just isn't anyone left to kill." What a charming town.