REAL ESTATE
Historic Detroit mansion pulled from market, will go to auction instead
DETROIT – The most expensive house on the market in the city of Detroit, which had been listed for nearly $7 million, has been pulled and will now go to auction. The 12-bedroom, 12-bath estate in Palmer Woods spans more than 34,000 square feet, on more than two acres of land, including the main house and carriage house. It was listed for sale in May of 2023, at nearly $9 million. It was re-listed in February 2024 at $7 million.
Renting or Buying a Home in Detroit: Which Makes the Most Sense in Today’s Economy?
National Financial Literacy Month just ended, but it’s an excellent time for people thinking about moving to weigh whether it’s more financially prudent to buy or rent in Detroit. According to most real estate industry professionals, the question to buy or rent is not a one-size-fits-all answer, and making the right decision will involve numerous factors, such as evaluating of one’s employment and financial stability, credit score, lifestyle preference, and long-term goals.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.