In One Home, a Mighty City's Rise and Fall

Price of Typical Detroit House: $7,100

From WSJ

http://online.wsj.com/article/SB125390841258341665.html?mod=WSJ_hps_LEADNewsCollection

By MICHAEL M. PHILLIPS

DETROIT -- On a grassy lot on a quiet block on a graceful boulevard stands the answer to a perplexing question: Why does the typical house in Detroit sell for $7,100?

The brick-and-stucco home at 1626 W. Boston Blvd. has watched almost a century of Detroit's ups and downs, through industrial brilliance and racial discord, economic decline and financial collapse. Its owners have played a part in it all. There was the engineer whose innovation elevated auto makers into kings; the teacher who watched fellow whites flee to the suburbs; the black plumber who broke the color barrier; the cop driven out by crime.

The last individual owner was a subprime borrower, who lost the house when investors foreclosed.

A city that began a slow slide 60 years ago has now entered a free fall, pushed by the twin crises of housing and cars. Detroit's population peaked at 1.85 million in the 1950 census. It is now less than half that. In July, unemployment hit 28.9%, almost triple the national average.

And the median selling price for a home stood at a paltry $7,100 as of July, according to First American CoreLogic Inc., a real-estate research firm -- down from $73,000 three years earlier. A typical house in Cleveland sells for $65,000. One in St. Louis goes for $120,000.

But, battered and forlorn today, both Detroit and 1626 W. Boston Blvd. were solid and optimistic 90 years ago.

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突然在msn 上瞟到这样一个标题：

然后觉得要么是自己想像力不够，要么这个专家足够脑残：

（1）债券市场薄弱，跟发展基金产品有个狗屁关系？基金产品多元化，难道让基金去发债？

（2）私募基金纳入监管。。。 难道私募基金没有注册过xx投资公司？什么时候把证监会纳入纳税人的监管才是亟待解决的问题。

TNND