Buy a spare home for $1000??
1/8/2009 at 10:03 AM
Tyler Glen's been talking about this on Star a bit today...
Apparently the foreclosure situation in the US has hit enough of a rock-bottom that you can buy a complete home in Detroit, Cleveland and some other cities for $1000-ish. Here's the story from CNN:
http://money.cnn.com/2009/01/08/real_estate/thousand_dollar_homes/index.htm
They all need at least moderate renos, and I doubt we're talking waterfront homes in Cleveland, but interesting nonetheless to note what the same houses would go for in our more stable market...