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Thread: House just sold for 1 US dollar?

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[quote=BBQQ,316583]One dollar can get you what, a large soda at McDonald's or a used VHS movie at 7-Eleven? Except these, what else can you get? A house in Detroit. Don't be surprised. It is true. The subprime crisis has caused great impact on US real estate market. Many people asked loans from the bank for buying them houses. However, they couldn't return the money back to the bank. Thus, the bank forclosed the house and wanna sell it to other people. In January, the house was just sold abou 1100 dollars. However, no people wanna buy it. Without other ways, the bank finally decided to sell the house just for 1 dollar. The original price was about 65000 dollars.

After 19 days, the bank finally sold out the house. A local woman bought the house and considered that house to be an investment property. She said she wouldn't live there. If that happened in China, that would be really good news. Sigh!

Here is the article: http://www.detnews.com/apps/pbcs.dll/article?AID=/20080813/METRO/808130360/&imw=Y

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