In Detroit, housing inventories are up 39% from a year earlier in a very weak employment outlook. Also, the percentage of Metro Detroit mortgage loans that are 30 days or more delinquent in the fourth quarter of 2006 is 3.94 percent, the highest in the country. Both of these factors are pushing single-family home prices down in Southeastern Michigan. The Wall Street Journal, January 25, 2007.
Detroit Neighborhoods and Communities.
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