How come it's so inexpensive to buy a house in Detroit, MI?

Question

How come it's so inexpensive to buy a house in Detroit, MI?

Answer 1

More people want to leave than move in.

Answer 2

The current economic situation in Michigan creates an extreme buyer's market.  This has meant that with the number of people leaving the state because of the trouble in the automotive industry, and the severe discrepancy in the number of people moving in, sellers are forced to drastically reduce the asking price on their homes in order to attempt to sell. Most often, they are also in situation where they have already moved and need to offload the expense of a house back in Michigan.  I live in Las Vegas, but transplanted from MI 6 years ago and I see more and more MI license plates on the roads here every day.

Answer 3

Because thieves will break in to your house and steal the copper pipes while you are at work.

Answer 4

The life expectancy in Detroit is very short I heard, depending what neighborhood you buy in.

Answer 5

Because it makes the Detroit featured in Robocop look like Disneyland.

Answer 6

Because the economy there has been in the toilet for a very long time.  Wherever there are not jobs the housing will be cheap.