I was talking with a friend about our crazy real estate prices and what comparative bargains must be available in older cities. “Like in Detroit,” I said.
A quick web search shows that houses (a technical definition) in Detroit start at under $1,000. But there are derelict houses everywhere. What does real money buy in a place that’s lost a million people since its peak?
Well, less than a million buys a mansion. A real mansion, with nearly 12,000 square feet on half a city block, nine bedrooms and murals on the ceilings.
Those slightly larger spec homes with granite counters that go for a million around here don’t quite have the same feel…but they’re probably cheaper to heat.
What $975,000 buys: