Houses Are Selling For Less Than Cars In Detroit.

Yikes…wouldn’t want to own property in Detroit right now….then again, I could move in and buy a neighborhood for myself, no?

At least 16 Detroit houses up for sale on Sunday sold for $30,000 or less.

A boarded-up bungalow on the city’s west side brought $1,300. A four-bedroom house near the original Motown recording studio sold for $7,000.

“You can’t buy a used car for that,” said Izairi. “It’s a gamble, and you have to wonder how low it’s going to get.”

Um, anyone live in Detroit? I knew it was bad, but not THIS bad!

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Comments (8)

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  1. Harm says:

    Well, yeah, a boarded up burned out house
    in a bad section of town will sell for less
    than an Acura, DUH!
    Where have you been?

  2. david says:


  3. I would imagine that those are crack houses (possibly condemned) on postage stamp lots in a horrible part of town.

  4. david says:

    I agree Nickel…it is just amazing to me that a city can fall so hard!

  5. ~Dawn says:

    My curiousity is
    Who is buying this property?

    I would think that with enough money you might be able to buy up enough land, sit on it for a while and make it into something better.
    Tear down the houses, make dirt lots (unappealing) and then start building Condos or try to rezone for a commercial area… just a thought.

  6. david says:

    My thoughts too Dawn…I could own half of that area for the price of a 1 bedroom condo out here…

  7. Wow, I wonder who can turn such a city around? I knew it could be bad in real estate, but that bad?

  8. david says:

    I’m thinking I should buy the whole town with a few people and hold it for a while…it’s Detroit after all, it will come back eventually even if it is 100 years from now….