Detroit fact of the day markets in everything

Here's all you need to know about the real estate market in Michigan: The 80,000-seat enclosed Silverdome, built for $55.7 million in 1975 to house the Detroit Lions, has sold for $583,000.

And you thought your home had lost its value during this recession.

Think about it this way: $583,000 will get you a decent, but not terrific, house in a nice neighborhood in Northwest Washington.  [TC: will it?]

According to this story from the Detroit News, the Silverdome — which is a bubble dome, pictures of which you can see here and here — was hoped to fetch at least $1.3 million; maybe as much as $3 million. The dome comes with 27 acres.

The full story is here and I thank Greg Finley for the pointer.


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