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Tuesday, August 19, 2008

Foreclosure Effect: House in Detroit Listed and Sold for $1

One dollar can get you a large soda at McDonald's, a used VHS movie at 7-Eleven or a house in Detroit. The fact that a home on the city's east side was listed for $1 recently shows how depressed the real estate market has become in one of America's poorest big cities. And it still took 19 days to find a buyer.

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