Somehow I recently came upon a blog post that discussed the depths to which the housing market in Detroit has sunk in recent times. Near the end of the post a link to real estate listings in the area was included. If you take a look through these listing you will see a number of houses in the $1.00 range, and many more in the less than $1000.00 range.
While some of the descriptions included in the listings suggest that some of these might be 'investment' properties I have a hard time believing this. For this to happen not only would one have to eventually construct a new house on the lot, but the neighboring lots would also have to have new or newish houses. I guess ones odds of picking a winner for $1.00 are likely better than the lottery, but that doesn't mean that the odds are particularly good.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment