Monday, September 28, 2009

Motown barter: Trade in your used car for a house, or two, or three. 

"Why does the typical house in Detroit sell for $7,100? ... the median selling price for a home stood at a paltry $7,100 as of July ... down from $73,000 three years earlier." [WSJ]
If you have dreams of building a real estate empire, buying low to sell high, will you ever have a better chance to buy low?

Yes, I know, it's Detroit ... but even paying 20% down, you might be able to buy a whole street of houses on your credit card.