Saturday, September 5, 2009

Will Detroit exist in 20 years?

I just saw this blog entry that states the average home price in Detroit is less than $13k. Why aren't speculators buying up these properties? For the amount I shelled out at closing here, I could've bought three average houses in Detroit. You could rent the houses out for $250/month and probably still turn a profit.

I bet most houses are in pretty bad shape though.

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