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.