Redford Township has most affordable housing
Updated On: Nov 28 2012 07:14:05 PM EST
Redford Township has a new distinction as the town with the most affordable housing in the country.
That's according to this year's aspirational sales study from Coldwell Banker Real Estate.
The survey says Redford has the best value for a home with four bedrooms, two baths and a nice yard.
Sitting next to Detroit, Redford saw its home prices plummet with the collapse of the housing market. Many homeowners found they owed more on their homes than the home was worth.
Resident Nora Dobrygoski is not troubled by that.
"You know, some people don't, 'We gotta get out of Redford, we ought to jump into Livonia,' but I really like it here, I like my neighbors. I feel safe, actually. I've never had anything (wrong), ever," Dobrygoski said.
The average home sale price of $60,000 put Redford on top of the most affordable list.
That price is a staggering 97 percent less than the most expensive cities, all in California.
Nora Dobrygoski knows the market is ripe for investors. She sees them snapping up housing deals today.
"People in Florida are investing up here because it's so cheap. Where you can go and buy? If we were 10 years younger we would have bought these houses, but we don't want to be bothered with collecting rent or watching it," Dobrygoski said.
The Coldwell Banker survey covered cities all across North America. In Canada, it found the most affordable city for housing was across the river from Detroit, in Windsor, Ontario.