In five years, total Michigan property values plunged by more than $260 billion, according to an analysis of state records by Bridge Magazine. But while the decline continued over the last year, it slowed considerably. Values dropped from $725.5 billion in 2011 to $698.6 billion in 2012. Adjusted for inflation, that amounts to a drop […]
real estate
Posted inBusiness Watch
Traverse City, Ann Arbor home sales point to brighter 2013
In parts of Michigan, a “For Sale” sign in front of a house is quickly followed by another: “Sold.” Realtors from Grand Rapids to Ann Arbor to Traverse City are reporting trends notably absent in Michigan for years. Home values are rising. And marketable houses in decent shape are often snapped up in a matter […]
Posted inBusiness Watch
What's property worth in your hometown?
The total value of property in Michigan dropped about $36 billion, in inflation-adjusted terms, between 2011 and 2012. And that constitutes good news on the property front in the Great Lakes state in recent years. The $26 billion drop – a loss of 5.7 percent – is far less than the declines seen since the […]
Posted inBusiness Watch
Deep inside the Lost Decade: Decline, transformation and resilience in Michigan's regions
Ann Arbor on the east side and Grand Rapids on the west are widely regarded as the most prosperous and desirable metropolitan areas in Michigan. But Kalamazoo-Portage and Battle Creek in Southwest Michigan surprisingly outpaced Ann Arbor, Grand Rapids and all other metro areas in the state in economic growth over the past decade. An […]