Thursday, January 12, 2006
Michigan's Housing Market Receives Gloomy Rating
The Detroit Free Press reports that while most of the country is seeing a relatively upbeat housing market forecast, three of the nation's top economists speaking at the International Home Builder's Show in Orlando singled out Michigan as a state that will continue to struggle with housing growth and appreciation, escalating foreclosure rates and an overall dreadful economy. Some areas of the country have seen home prices soar 20% or more, but in Michigan (particularly the southeast Michigan) home prices rose an average of 1% last year.
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