THE BASIS POINT

Pontiac Silverdome, Built For $56m in 1975, Sells For $583k

In a truly sad statement about the Michigan economy, the Pontiac Silverdome sold for $583,000. This site has hosted decades of A-list concerts, the Pope, and a Super Bowl. Now this deal makes that cache the same price price as a one bedroom condo in certain parts of San Francisco. The Silverdome was built for $56m in 1975, which translates into $225.1m in today’s dollars. Looking at it from the buyer’s side, this has to be the marquee deal of the great recession.