Detroit Housing: Median Price, 1994-2010

Gary North

March 22, 2010

On March 21, 2009 -- one year ago -- this chart was posted on the Seeking Alpha site.

The price was about $41,000 in 1994. The housing bubble pushed this to a little under $98,000 in 2004. In 2009, it was $13,600.

Today, it is about $7,000.

Imagine buying a home for $13,600 and seeing it fall to $7,000 in one year.

We are seeing a collapse like no other in modern history in peacetime, anywhere.