Study names Detroit region the most overpriced housing market in the US

Metro Detroit is taking the national spotlight as having the most overpriced homes in the country, according to a new study.

[@tb718w]

Detroit is overpriced in several things not just real estate

[@thebestchannel5456]

Nah, that's here in Chiraq and California

[@tb718w]

@@thebestchannel5456indeed overpriced there AS WELL

[@josephzilafro2720]

This report is about the region, not just the city...

[@Shadrachyisrael]

You are a lie!!!! I would love to trade pkace with you folks let you feel the pain too privileged for 3 Thousand years

[@tb718w]

@@josephzilafro2720 I include all of the metro. Really Ann Arbor to flint to Monroe to St Claire. In general, it is incredibly overpriced for what you get and in comparison to other Metro areas. I think one of the biggest issues is the inability to see if for what it is and then build from that point. Detroit in itself is not a major city, it’s a large town in mindset and a small to medium sized city population wise (yes including the actual metropolitan area). What I have found is most Michiganders and Detroit will argue with you against that as if they want overpriced homes gas food and entertainment in comparison to others. What the area was in the 1950s and what is in our hearts is different from reality.

[@josephzilafro2720]

One week they say Detroit area is the most affordable in the USA, then the next week they say real estate sales in Detroit is still booming while the rest of the country is slowing. Then the following week they say Detroit metro area is over priced....... obviously they have no idea and economic activity will always show the truth

[@hightolerance]

Stop saying Metro Detroit say Dearborn and Dearborn Heights outright. An article I read is basically saying the people in those areas want to keep and bring their own families into the community and they're driving up the costs.... go look it up😢😢

[@1MChantye]

I and many of my family and friends are preparing to move out of Michigan. Housing, Politics, Bad Drivers, Continuous Road Construction thats never ending. Being born and raised in Michigan, I am surely disappointed in this State and its Leaders.

[@MultiAnne36]

Yes. This is why I left 2 years ago.

[@SolomonGoldschmidt]

its property taxes..greedy government raises the property taxes to rake in more money AND also the taxes go up, so its like a double whammy....too much greed and to many decades of rediculous property value increases, and here we are....basically anywhere to live is unaffordable to normal people these days...everytime they want MORE money they raise property values...my property tax is higher than my mortgage payment..im paying 1000 a month in taxes

[@Bonafide188]

Yeah this is unlikely to be true.

[@Shadrachyisrael]

NO. YOU DONT KNOWWHO YOU ARE!!!! READ DUETERONOMY 28. THIS IS YOUR PROBLEM IN LIFE PERIOD!!!!! YOUR NOT AFRICANS YOUR ISRAELITES THE ONLY PEOPLE WHO FIT THE SCRIPTURES NO OTHERS FIT GODS PEOPLE. NONE!!!! READ IT

[@jazziez6467]

hey its those out of state /local rich investors looking for rentals and airbnbs. have one behind me and they paid way over the normal price range and don't even take care of it, overgrown lawn, giant weeds, very tall dead maple tree heading towards my house in a windstorm.

[@up-uw4op]

prices have gone up just the same across the state and many other states. 40% sounds about right. My rent has more than doubled in the last 6 years

[@ErikaAdvocate]

Duh we said that this would happen years ago. They said they would clean things up and give money for affordable homes and that's not what's happening its the opposite.

[@jeff022889]

The state of California has the most overvalued homes in the world

[@kevinmach730]

Yeah, the report doesn't do a good job explaining how they determined overvalued. Because as you said, there are probably over 100 cities with metro areas that are far more expensive then Detroit.

[@psudosurreal]

Someone doesn't understand the difference between a reputable source and propaganda. B*******. This report came from Florida University which is basically just been taken over by DeSantis. He's put all of his government people in all the chambers of Florida University. On top of that, florida is having a huge housing crisis. For the past two weeks I've been reading about nothing but how all these different housing markets in Florida are upside down on their loans. Now. This piece coming out about Detroit which makes no f****** sense. Metro Detroit may be high but that's an extremely small market where it's suburban Detroit is extremely undervalued. So they cherry picked a very very small particular use case so they can highlight it above their own crisis

[@joesmith3590]

Not even close. California is so much better and desirable then Detroit it is not comparable.

[@kevinmach730]

@GoldTau-t1b Salaries to support it? LOL whatever. You probably need to make $175k/ yr to buy a house in CA. How many people there making that?

[@DdoubleU979]

Are u slow

[@OwnItJesusSaidYes365]

Houses are overvalued in every state after Pandemic. Check Oklahoma, Texas, California, Florida, and many others. Also stop using Detroit Name in your topic when it's Surrounding Cities. Using Detroit just brings a growing City down.

[@FlatlanderJoe]

Yeah Detroit is overpriced, but it doesnt take a rocket scientist to see that California has the highest realestate prices.

[@marvinstrong9374]

​@@Warden033apparently it takes someone smarter then you to realize that doesn't make since. Demand is high and sellers are getting multiple offers in both places. So what makes us more overpriced then a state that has $500K tiny crackhouses in gang infested ghettos? Vs what you get for $500K here. And the wage vs cost of living gap in Cali is also worse.

[@FlatlanderJoe]

@@Warden033 than you* at least I'm smart enough to form a proper sentence.

[@joesmith3590]

Make since? You mean sense? You are a Detroit . Native for sure. Showing why the values stay low

[@Shadrachyisrael]

YOU ARE A LIE ALSO!!!! WHY YOUR FOLKS VOME BACK TO UP THE PRICES TO PUT A FINANCIAL HARDSHIP ON BLACKS AS THE DAYS OF SLAVERY!!!! ALL YOUR THE SAME!!! AS YOUR FATHERS FATHERS, BUT READ THIS ISAIAH 14:12-16,21,22. ITS COMING FAST.

[@honestinspiration]

@marvinstrong9374 I'd take a $500K tiny crackhouse in a gang infested ghetto any day over living in disgusting Detroit 🫣

[@Leslie-t3e]

IVE BEEN SAYING THIS FOR YEARS

[@craigpridemore7566]

Whoever wrote this study, hasn't looked at housing prices in THE ENTIRE STATE OF CALIFORNIA! I watched a show recently that had a house flipper taking a 900 sq. ft. home in LA, BUYING it for 300K and SELLING it for 497K. Talk to me about overpriced...

[@thevinceberry]

This is not California. Metro Detroit winter is miserable, roads are terrible, crime....

[@marvinstrong9374]

​@thevinceberry Cali has a much bigger crime problem, much more serious gang problems and illegal immigrants problems, there's more homeless in Hollywood and Beverly Hills then any part of Detroit. Tiny 1 story crackhouses in a gang infested area of Compton still cost $500K. we average less then 5 snowstorms a winter and most of us haven't seen a tornado, Cali has earthquakes, wildfires, mudslides, ect.

[@MultiAnne36]

This has been the case for 20 years at least. The reason is because there is no reason for the prices to be so high in SE Michigan. The auto industry artificially inflated that real estate market over 50 years ago but all those good paying jobs are long gone. It's all fake.

[@6177byrd]

Shit if you think it’s that bad.. turn to our neighboring country Canada.. Windsor, Ontario they have more families than they have houses.

[@tommytomtom5531]

Supply and demand rules the market. Try to even find a house for sale in Lyon Township or Brighton or Milford or Wixom. When one hits the market there are 10 buyers lined up for it. A seller's market for sure.

[@Shadrachyisrael]

UOUR WRONG LETS GET IT JOB 9:24. 30:3-8. SEE WHATBYOU DIDNT KNOW ISCYOUR BIBLICAL NAMES AND GAMES!!!! EZEKIEL 25;14, 36:5, READ THIS PASS IT TO YOUR CHILDREN FRIENDS AND FAMILY!!!! YOUR WERE TAUGHT LIES!!!! YES IM A REAL JEW!!! NOT GOYIM.

[@amadeupaiva8184]

Scammers...at its best.. musical chairs.

[@psudosurreal]

An obvious hit piece is obvious, study done in Florida by Florida University. The state that has probably the worst housing market crash currently going on right now. Well, I'd say there are very small pockets of Metro Detroit that are overvalued that's largely outweighed by anywhere in the suburban area of Detroit is extremely undervalued. I live in Flint, Michigan. Housing prices are going up but they're pretty damn cheap compared to the rest of the country.

[@craigpridemore7566]

If people are paying more than the asking price, as the homeowner, should I say, 'Nope! I'll only take the asking price!' Buyers are driving up the price, not the sellers!

[@tommytomtom5531]

Yup A buyer's markey if i ever did see one.

[@alisont.6940]

California laughs in your general direction. Those prices are rising because they are so low and people who can't find anything where they are are looking for anywhere they can afford.

[@Rob_G716]

Exactly!!! From California

[@miketdarnell]

I call bs

[@JohnWickkkk]

Cry

[@Shadrachyisrael]

THE STUDY IS YOU ASA PEOPLE!!!! NEVER TRST YOUR ENEMIES !!!!! HEAR WHAT YOUR GOD TELLS YOU DUETERONOMY 28:37, 43-46, 50, 68. SO DON'T BE DISMAYED!!!! HOSEA 4:6. WE HAVE BEEN DISPURSED THROUGHOUT THE WORLD. THIS IS NOT GOING TO CHANGE PEOPLE!!! READ THE SCRIPTURES THIS IS YOUR BOOK!!!!!!

[@Bonafide188]

The methodology of the original study is flawed, any area that is up and coming is going to be considered "overvalued" while any areas declining, are going to be considered undervalued. I wouldn't take it too seriously.

[@thevinceberry]

no it is way overvalue, half of the city is still dangerous and they dare to sell a ugly loft for $500k. Little house in Ferndale is also $500k.

[@Bonafide188]

@@thevinceberryhave you tried not being poor?

[@junkman7426]

"Home are overpriced" How? If you had 35 showings, and 11 offers and the homes are selling $40k MORE than asking, then how are they "overpriced." People are literally asking LESS than what they are actually selling for. Sounds like there is very high demand. It's not that houses are overpriced, it's that available housing is too sparse.

[@lissaleggs4136]

Detroit finally catching up to rest of the country of overpriced properties.. This story is about 2 months late and doesnt explain Detroit home prices were bargains compared to rest of the country, so now they are catching up.. Just sold one of mine and I got what I wanted for it.

[@MultiAnne36]

Detroit is not a place to live unless you can afford the high rent district and love city dwelling. It's a lifestyle. If you have kids, you need private school.

[@Rob_G716]

Oh please, realestate in Detroit is dirt cheap! Give me a break 😂 300k, 400k etc. If you can’t afford that, you need to take a long look in the mirror.

[@choosey87]

Right; They only consider them over-priced because Detroit is predominantly Black.

[@thebestchannel5456]

​@@choosey87Yeah, i guess Detroit being 75% black is predominantly

[@thevinceberry]

@@choosey87 They are talking about Metro Detroit, Metro Detroit have everyone in it.

[@hightolerance]

​@choosey87 this has nothing to do with black people... it's about a specific race in. Dearborn and Dearborn heights so correct you're racist remark and say it again. . It's not our fault your dad is your granndpappy😊

[@choosey87]

@@hightolerance It's "your racist remark" not "you're racist remark", but it's obvious you're slow since your parents are siblings. I'm suggesting Hooked On Phonics, 2nd Grade Edition for you.