Outside buyers drawn to Detroit's foreclosed homes: "DETROIT (AP) - Welcome to Landlord Nation, where foreclosure notices are plentiful and for-sale signs offer at least 1,800 homes for under $10,000 that once were worth at least 10 times more.
In extreme cases, homes are on sale for $1 or less, which has enticed investors to Detroit from as far away as the United Kingdom and Australia"
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If somebody had put this in a novel 10 years ago, it would have seemed laughable.
1 comment:
I hope the Brits and the Aussies realize how the US property tax system works. They're going to be in for a nasty surprise.
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