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Signs of the Apocalypse

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The sky is blue, the Detroit Lions stink and real estate values can only go up. Today the New York Times smashes one of these self-evident truths into pieces, and sadly for the state of Michigan, it's not a sports story. Under the dramatic headline "Housing Fades as a Means to Build Wealth, Analysts Say," the paper says America's golden goose is cooked. Doomsday quotes include, "There is no iron law that real estate must appreciate," and, “People shouldn’t look at a home as a way to make money because it won't." StreetEasy message boarders are calling it a "housing eulogy," so go into your closet and grab something black. [NYT]