US homes sell for $100

The current state of the US Property market is so dire that buyers are now scooping up homes for next to thing according to a CNN website.

In Detroit and Cleveland, according to a report, banks are unloading rundown homes at prices as low as US$500 (A$750) – and even lower. In Detroit, Realtor.com listed a three-bedroom, one-bathroom home of about 986 sq ft for only US$100 (A$150).

 

Stated in the report “With prices this low, lenders aren’t looking to make any money on the deals.”  Read the rest »