A house in Detroit was baught for 1$

Believe it or not, a house in Detroit was recently bought for 1$ (not 1 million dollars, 1 dollar)!

Just two years ago the same house was bought for 65,000$, and for the last 19 days the house was for sale for 1$ until it found a buyer.

How come? Well first of all this house is near the airport in Detroit in a poor neighborhood. Second, you probably already guessed it - the owner could not pay the mortgage and the house was taken by the bank. The bank tried to sell it since January for 1,100$ but could not find anyone interested. During this time the property started to owe debts in the size of 4,000$ and the bank decided to lower the price for 1$.

There is more. After the original owners of the house were evicted, steel thieves stole all they could from the property, including the sinks. When the bank asked a guarding company to guard the property, they put some wooden boards to protect it, but these were stolen too...

Seems like this house does not have a very promising ending.

The full (in Hebrew) article can be found here: http://www.themarker.com/tmc/article.jhtml?ElementId=nh20080817_06