You Can Buy A Home In Detroit For What It Costs To Rent One For A Month In Williston
Via Mark Perry, these are two homes that are on the market. The one on the left is in Detroit, the one on the right is in Williston, ND. Associated with both is a price of $2,900.
The difference? You can buy the home in Detroit, which is in a state of economic depression, for $2,900.
The home in Williston, in the midst of an energy-driven economic boom, can be had for $2,900/month.
There is a lot of angst about rising rents in western North Dakota because of spiking demand for housing and limited supply, but perhaps this comparison brings some needed perspective.
Better to be Williston than Detroit.Tags: bakken, detroit, North Dakota News, oil boom, williston