Sunday, April 13, 2008

The housing collapse quantified

When the housing market is healthy, homes sell in three months. The Free Press reports today that Metro Detroit has a 18.9-month inventory of houses. The city proper is unbelievably worse: 51.1 months, or more than four years.

If you want to sell your home, this is terrible news. But if you have money to burn, now is truly the time to buy. Can the market bottom out any lower? (Let's hope not.)

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