Detroit Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The Detroit housing market experienced stagnation in the fourth quarter and has now posted negative real returns over the past 72 months (rolling 6 years), as real prices have returned to levels not seen since Q4:2000. Fortunately, Detroit avoided the unbridled exuberance seen in many coastal markets, the prolonged slump in the auto industry has lead to job losses and negative economic trends. Future prices will be dependent upon local economics and will likely remain stagnate in the near future.

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Year	Nominal Price History	Nominal Price Growth	Real Price History	Real Price Growth	Detroit Mortgage-Debt-to-Income Ratio	National Mortgage-Debt-to-Income Ratio
2001	$139,200	6.1%	$158,200	3.3%	14.3%	17.8%
2002	$144,800	4.1%	$160,400	1.4%	13.7%	17.5%
2003	$149,900	3.5%	$162,900	1.6%	13.7%	18.3%
2004	$154,500	3.1%	$163,700	0.5%	13.5%	19.6%
2005	$157,000	1.6%	$161,800	-1.2%	14.0%	22.6%
2006	$154,600	-1.5%	$154,600	-4.4%	13.1%	21.7%

DETROIT, MICHIGAN - Q4:2006