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That property's in Detroit.  That's a pretty normal price. There's hit and miss revitalization in the midtown area between downtown and Wayne State.  It's a real rough neighborhood.  But even in many other smaller cities in the Midwest, it's not strange to see housing that cheap.  It is in my hometown.

I have a real hard time seeing prices like those in European cities.  There just don't seem to be that many places where the jobs have simply disappeared, and then the people abandoned properties.

That's what drives these extremely low price properties in the US. With the exception of a few old rural houses in Spain and the like I just don't see there being the potential anywhere in Europe for prices to fall that low.

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Tue May 17th, 2011 at 06:27:43 AM EST

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