"In some parts of Detroit, 80% of housing is empty amid widespread unemployment. Many have simply abandoned properties now worth a fraction of the mortgages on them.http://www.guardian.co.uk/world/2010/dec/17/detroit-shrinking
Property prices have collapsed to the point where houses can be had for $100, although the average price is $7,500 (£5,000). The city council gives homes away to those prepared to pay the outstanding property taxes."
Monday, December 20, 2010
Detroit mayor plans to shrink city by cutting services to some areas
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