Hoping to Get On the Housing Ladder? Invest in a One-Way Ticket to Motown

Summary

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COMING soon to a promotional evening near you: the chance to buy a flat in Detroit. After Cape Verde and Ulan Bator, this must be your money's next destination of choice. You will be told that this represents fabulous value. It will certainly be cheaper than it was.

Overlooked at these events until now, the world's biggest market in housing is, for the first time on record, in decline from sea to shining sea. Hardest-hit is Detroit, where the big three carmakers are dumping jobs to stay afloat, and the losers are dumping their houses. Prices are down by 11% in a year. It can happen.

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Hoping to Get On the Housing Ladder? Invest in a One-Way Ticket to Motown

For investors who would rather stay at hom...

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