Detroit Home Values at 1996 Levels

http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html

http://www.nytimes.com/interactive/2008/12/04/business/economy/HOUSING_PRICES_GRAPHIC.html

http://www.nytimes.com/2009/04/01/business/economy/01econ.html?_r=1

The January 2009 Case Shiller index shows that home values have continued to plummet in the new year. The Case Shiller index measures a market's relative appreciation or depreciation from where that particular market was at the index's baseline, January 2000.

Since the Detroit market peaked in December of 2005 it has given up just under 40% of its value and, relative to the top twenty major markets, has lost the most value since the baseline date. Detroit home values are now 22.5% lower than they were in January 2000 placing them at July 1996 levels.