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Gary, Indiana offers homes for $1

Little House
Gary, IN (about 20 miles or so south of Chicago) is offering homes for a buck, and if you meet the following requirements, you may wish to make the move:

Prospective owners would have to meet income requirements (starting at $35,250 US for one person) and would be required to live in the home for five years before they received full ownership.

The benefit to the city? Stabilized neighborhoods and increased revenue from taxes to help with the debt and ailing infrastructure.

Fifty homes a year will be available, and prospective owners will be chosen by lottery.

For more, see here: CBC Business.

More stories about real estate.

Photo credit: benchart – Fotolia.com

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