Forbes: Most Undervalued Markets: Detroit, Mich.

[enio]

Do you think one of the reasons for Detroit's rock bottom real estate prices might be related to the following? --

https://www.forbes.com/pictures/mlj4.../#fe8dc6469d9f.

Detroit housing is the cheapest of any big city in the country. Where else can you purchase a home for the price of a new car. This recent Crain's article helps detail the unique problems of the Detroit housing market:

https://www.marketplace.org/2016/09/...-neighborhoods.

Until the city solves its many problems, few lenders will take the risk of financing homes in Detroit.

[Meddle]

Where else can you purchase a home for the price of a new car.

Depends on the car. A significant number of fairly basic 'cars' are well over $30K now which is just plain silly. Can you even buy a NEW car for under $20K?

Houses in Detroit have always been available in that same $20-$30K range. Decent, well-built houses too. Over $50K was kind of expensive.