The place to find a cheap home
You can get homes for less than $100,000 in Baltimore City -- 1,806 as of January. But what about for less than $10,000?
A Chicago Tribune story points out that the median -- median -- price of a Detroit home in December was $7,500. That means half were less expensive. (As the story notes, that's a purchase price you can swing with a credit card.)
Yeah, I wondered if perhaps that wasn't right. So I went to the Michigan Association of Realtors site. The MAR reports averages only, which are generally higher than median home prices, but in December the average Detroit home seller got $17,700. In January, the figure was less than $14,000 -- down 43 percent from January '08.
Sales are up, though.
Thanks to reporter extraordinaire Stephen Kiehl for the heads-up.
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Comments
I drove through some of those Detroit neighborhoods today - and trust me, most people would not want to live there.
Posted by: bdc | March 2, 2009 10:16 PM