A friend of mine took me on a tour of the St. Clair-Superior Neighborhood on the near east side of Cleveland yesterday. This neighborhood is one of the hardest-hit by the housing crisis. Only about 10 percent of the housing is occupied. A local real estate investor has taken an interest in the neighborhood because of its low real estate prices and proximity to downtown and Lake Erie.
We began our tour at an east side park with a nice view of Lake Erie. A lot of people dock their boats …

About 200 homes are on the market for absolutely nothing right now in metro Detroit, the Detroit News reports. Three Detroit-area homes are listed for $1. At $1,000, you can have your pick of another 200.
Real estate news doesn’t get much worse than this.
According to The News, more than half the homes sold in southeast Michigan last year, with the exception of St. Clair County, were in foreclosure. In St. Clair County, traditional sales beat foreclosures by one transaction.
In Detroit, the average sale price of a house is $7,000. Last week, …