Buy a House for Only 1 Dollar - Only in Detroit Baby
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Yesterday we had the dead leaving Detroit in droves, now we have the 1 dollar home. Yes, you heard me right, a home for 1 dollar. 100 pennies. Your child could buy it with their allowance. A sawbuck. See below for a picture of the 1 dollar home.
Heck, it costs 230 dollars for Barbies 3 Story Dream House, but in Motown you can get the real thing for a buck.
Just don’t tell my 12 year old, he would buy it and I would lose all my leverage. 
The sale price of the home may be an anomaly, but illustrates both the depths of the foreclosure crisis in Detroit and the rapid scuttling of vacant homes in some of the city’s impoverished neighborhoods.
The home, at 8111 Traverse Street, a few blocks from Detroit City Airport, was the nicest house on the block when it sold for $65,000 in November 2006, said neighbor Carl Upshaw. But the home was foreclosed last summer, and it wasn’t long until “the vultures closed in,” Upshaw said. “The siding was the first to go. Then they took the fence. Then they broke in and took everything else.” via Detroit News
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Comment by Prince of thrift on 13 August 2008:
There was a time when the $1 price for distressed homes was common place every where. The city of Topeka (KS) used to sell foreclosed homes for $1 to low income people, who then agreed to fix up (repair) those homes.
However, many cities have moved away from that practice in favor of other programs to assist those low income (often 1st time) home owners.
Comment by phyllis harb on 14 August 2008:
This is a great (imaginative) post!
Pingback by Will Bush cancel the elections: Presidential Directive 51 - Page 5 on 10 November 2008:
[...] Originally Posted by motownguy I’ll tell you this much … they’re right about the number of empty houses in Detroit. There are some blocks that are almost completely vacant. Large tracts within the city are ghost-town like. It doesn’t quite have that post-apololyptic feel, but you can see it on the horizon. have any more houses sold for 1$ or similarly silly values Buy a House for Only 1 Dollar - Only in Detroit Baby : The Real Estate Bloggers [...]