Example of the Commercial Real Estate Crash: Silverdome Sells for $583K

In an example of the collapsing real estate market, the Detroit Silverdome – which was almost sold last year for $20 million dollars – was just sold for $583K.

Taxpayers paid $55.7 million to build the Silverdome in the 1975, the Pistons played there between 1978 and 1988, and the Lions played there from 1975–2001.

The Daily Finance points out that $583k sounds more like the price for a New York Studio than a giant sports arena.

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