PhillyD

Housing: Barron's Calls a Bottom

I live in Canton Michigan and purchased my house 2 years ago and have lost about $150,000 in equity since then. Yet in my sub-division (and experimental sub in what's known as the "New Ubranism" - they built nice old fashioned looking homes on smaller lots), which when I bought two years ago couldn't build a shed and sell it now has over 30 new homes, and counting, going up that are not spec homes but presold!

Maybe Michigan, which started off our housing recession, will be the first to lead us out?