Buy a home for $7500

No, it's not a misprint. Sound ridiculous? Click here for proof. So you think we have problems in Ontario?

The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.

Detroit, which has lost half its population in the past 50 years, is deceptively large, covering 139 square miles. Manhattan, San Francisco and Boston could, as a group, fit inside the city's boundaries. There is no major grocery chain in the city, and only two movie theaters. Much of the neighborhood economy revolves around rib joints, hot dog stands and liquor stores.

Often described using same terms as that of 3rd world countries, Detroit is in a tailspin. But if you want cheap housing...

Not sure about the investment value though.

Robert J. Morrow is editor of www.HamiltonHomeReview.com, an online real estate magazine serving Greater Hamilton, Ontario. Click here for a FREE SUBSCRIPTION sent to your email monthly. Click here to receive new Hamilton area listings in your email daily.