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Got $100? Welcome to Your New Detroit Home

By Ashley Fantz, CNN
6/18/2009

If an e-mail popped up in your inbox promising a house for $100, you'd expect to see it sent from a guy in Nigeria asking you to wire him several thousand dollars first.

But this depressed housing market dream is real. And Detroit, Michigan, artist Jon Brumit and his wife Sarah are living it.

The couple never counted on owning a home.

"It's not that we have a little money," Jon Brumit said, laughing. "I'm saying we have no money."

But the couple began entertaining the idea of a permanent nest when their friends Mitch Cope and Gina Reichert, also artists, started taking advantage of foreclosures in the city, where the average home price dipped to $11,533 in April, according to the Detroit Association of Realtors.

Click Here to read the rest of the story…and to see the pictures!

 

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Do you know anyone who had the gumption to take on a similar project? Tell us the story.





Print Date: 2/28/2020
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