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Ouch.Steve Izairi, 32, who re-financed his own house in suburban Dearborn and sold his restaurant to begin buying rental properties in Detroit two years, was concerned that houses he thought were bargains at $70,000 two years ago were now selling for just $35,000.
Realtor Ron Walraven had a three-bedroom house in the suburb of Bloomfield Hills that had listed for $525,000 sell for just $130,000 at the auction. "Once we've seen the last person leave Michigan, then I think we'll be able to say we've seen the bottom," he said.
"Once we've seen the last person leave Michigan, then I think we'll be able to say we've seen the bottom," he said.
Thump;787954; said: