Pockets of Prosperity Shine Amidst Real-Estate Gloom - REJ
Pockets of Prosperity Shine Amidst Real-Estate Gloom
By Lauren Baier Kim
Here's a look at what's new in real-estate markets across the U.S. from around the Web. (Some links may require registration or subscriptions.)
Worst yet to come in Michigan
Hit by a double-whammy of an ailing auto-entrenched economy and a sagging housing market, many Michigan homeowners are finding themselves unable to afford their homes, according to an article by the Muskegon Chronicle. "Their only option may be to leave their house and turn it over to a mortgage company with the hope they can become a homeowner again in the future, when things are better," one local housing expert quoted by the paper says. The state was the only in the U.S. to see home prices drop in 2006, the article says. Michigan's housing market, which was skipped over by the U.S. housing boom, hasn't bit bottom yet, the Chronicle says...
By Lauren Baier Kim
Here's a look at what's new in real-estate markets across the U.S. from around the Web. (Some links may require registration or subscriptions.)
Worst yet to come in Michigan
Hit by a double-whammy of an ailing auto-entrenched economy and a sagging housing market, many Michigan homeowners are finding themselves unable to afford their homes, according to an article by the Muskegon Chronicle. "Their only option may be to leave their house and turn it over to a mortgage company with the hope they can become a homeowner again in the future, when things are better," one local housing expert quoted by the paper says. The state was the only in the U.S. to see home prices drop in 2006, the article says. Michigan's housing market, which was skipped over by the U.S. housing boom, hasn't bit bottom yet, the Chronicle says...
posted by Patrick Leblanc at 7:10 PM
