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you can easily buy houses in Detroit for $500 or less. The problem is they are in really bad shape and after you buy it, you will be "forced" by the city to fix it up or receive fines. Plus, don't forget about property tax.
This is what I heard from someone that lives not to far away in Michigan...
Detroit is playing a dirty trick to sneak in some extra money. they know the poor will just leave their houses, and leave them in bad shape to where they are not livable. But there are some laws that if you buy a house, it has to be in "safe" and "living" conditions. the poor people dont give a shit and will let the local govt try to come after them for the fines. While others in other parts of the country thinks its a good deal, they will quickly rack up hundreds to thousands of dollars in fines and unpaid property tax.
Like I said, I'm not sure if its true, but sure sounds like it
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