August 31, 2010
Home prices rise in Detroit, 16 other cities in June
Housing prices nationally and in Metro Detroit continued to rebound in June from housing crisis lows, according to a leading measure of the U.S. real estate market released today...
This is fantastic news.
January 29, 2009
Detroit's outlook falls along with home prices
The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.
Here's a question. How much money do you have leftover when you buy a $7,500 house with an $8,000 tax credit?
Frequently Asked Questions
About the First-Time Home Buyer Tax Credit
How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
It's actually a trick question. 10% of $7,500 is only $750. If you wanted the full $8,000 tax credit, you would have needed to do what Detroit's population has done since the 1950s. Find somewhere else to live. Sorry.
Where Americans Are Moving (Detroit)