Monday, Jul. 13, 2009
Michigan
Photo credit: Bill Pugliano / Getty
Homeownership has long been equated with the American Dream. Which is fine if you've got wads of cash stashed under the mattress, but for those hit by the current economic downturn, buying a house seems like a fairy tale. Not in Detroit, it isn't. Last December, the median price for a home in the city was $7,500. John Edwards can't even get his hair cut for that. Yankees third baseman Alex Rodriguez earned that in the time it took you to read the word baseman. So get in there and do what we Americans do best: buy real estate we can't afford.