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MSN Misses Detroit On Affordable Houses

Thu Sep 10, 2009 9:16 pm

This afternoon I was looking at and they have a story on there about 125 cities (metro areas) where you can still buy a home for under $150,000.>1=35000

I checked out the list and Detroit wasn't on there, but Youngstown, Ohio is and that is just as big of a rust belt town as Detroit. You can buy a house in Detroit for $1000 (it will be a turd in a BAD neighborhood, but you can if you want. If you want a safe neighborhood without much trouble you could move to Taylor, MI. There are listings for under $10,000. There are move in condition houses on my street that have gone for $15,000. The house next door sold for $26,000 and the house across the street sold for $21,000. A house down the block sold for $6000. My house is worth about $20,000 ( I owe $81,000 and got a steal when I bought at the peak of the market at $93,000 houses like mine were going for around $105,000)

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My House

This is my house and there are plenty more in my neighborhood for under $25,000.

There are not many people buying right now, but some people are. There are people who have low wage jobs that could never have bought a house before that are buying houses. Why would MSN not list metro Detroit (Wayne County especially) on a list of affordable homes?

Is this just subtle case of detroit bashing?
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RE: MSN Misses Detroit On Affordable Houses

Thu Sep 10, 2009 11:06 pm

I think it might be a case of appreciation. If you buy a house in Detroit for $100,000 will it be worth more in 5 years type-of-thing.
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