Mansions in old industrial cities like Detroit, St. Louis, and Toledo are really cheap, and the Wall Street Journal is on it. One example in the article, which literally quotes somebody named "Mr. Economy," is a 10-bedroom "with elaborate Victorian details" going for $284,777. Another? A 1917 Mediterranean-style manse in Detroit asking $365K. This is because, as the WSJ astutely surmises: "money goes further in some real-estate markets than others. Just how much further, though, can be striking." Read on. [WSJ]
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