Median Home Price in Detroit Drops to $7,500

The city's economic hardships are hammering its housing market.

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How hard has Detroit's housing market been hit? (From the Chicago Tribune, via The Big Picture)

The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.

Not $75,000. Remove a zero—it's seven thousand five hundred dollars, substantially less than the lowest-price car on the new-car market.

Check out the "good news" too:

On a positive note, Detroit's homicide rate dropped 14 percent last year. That prompted mayoral candidate Stanley Christmas to tell the Detroit News recently, "I don't mean to be sarcastic, but there just isn't anyone left to kill."