Can you buy cheap property in the U.S.?
Q.
I have heard that you can buy property in USA dirt cheap for
example in Detroit or California. What are your feelings about
this? It was featured on A Current Affair in Adelaide.
A.
The median house price in Detroit, Michigan has dropped to
$10,000 but keep in mind that there are always vultures about
looking for underpriced properties. If the properties featured were
genuine bargains it's a virtual certainty they would have been
snapped up. My advice is to look for a bargain in Australia - there
should be plenty around at the moment.
Each week financial advisor Noel Whittaker answers your
questions.
