Since Michael Brown’s death, the cost per square foot of a home has dropped by 47 percent in Ferguson. The average selling price of a home in the city has been on a steady decline since the shooting of Brown last August, according to housing data compiled from MARIS, an information and statistics service for real estate agents. Prior to Brown’s death, the average home sold in 2014 was selling for $66,764. For the last three and a half months of the year, the average home sold for $36,168, a 46 percent decrease.
The trend has continued on through this year, with the average home selling for only $22,951 so far in 2015. Another negative indicator: in the eight and a half months leading up to Brown’s death, the average residential square foot in 2014 was selling for $45.82. In the eight and a half months since Brown’s passing, the average residential square foot in the city has sold for $24.11. That’s about a 47 percent downtick in one of real estate’s core indicators.
Ferguson native David H. Pope, 76, who has worked as a realtor in the city for 48 years, says the current situation has made it nearly impossible to attract families to the area.
“I lost a sale yesterday,” he says, blaming the shooting of two police officers in front of the Ferguson Police Department. “This whole thing has been very, very detrimental to my work and the market here.”
Yeah well, Sharpton, CNN, Obama and the rest of the racebaiters is where you should be pointing the finger Mr.Pope. Not to mention the looters and racists that make up the bulk of your town’s population. Losers who use a politically driven myth as justification for stealing big screen television sets. How can there be institutionalized racism in the US when the President is a black guy? Its divisive Marxist strategy designed to divide us and destroy us and its working marvelously.