Wow! By popular demand—really, one friend’s request—I looked at real estate in Detroit to see what a family at the federally defined “poverty” level could afford there. I don’t know Detroit, so I can’t judge neighborhoods. But in the $75,000–110,000 range you can find PALACES in Detroit. To wit:
And these aren’t fixer-uppers; they’re beautiful inside. Here’s an example:
As I said: Wow. What does it say about Detroit that such houses can be had for so little money? It makes me want to start investing in real estate.
If you invest in real estate in the Detroit area, be sure to also invest in security systems and big German Shepherds, but I repeat myself.