House prices plummet in Detroit, Indianapolis, Cleveland

One good thing about the gloomy economy -- more people can afford to buy a house. For example, for $500 you can buy this three bedroom bungalow (below) in Detroit. From Les Christie's story in CNN:
200901080847The real estate market is so awful that buyers are now scooping up homes for as little as $1,000. There are 18 listings in Flint, Mich., for under $3,000, according to Realtor.com. There are 22 in Indianapolis, 46 in Cleveland and a whopping 709 in Detroit. All of these communities have been hit hard by foreclosures, and most of these homes are being sold by the lenders that repossessed them ... In Detroit for instance, Century 21 Villa owner Randy Eissa has a three-bedroom, one-bath bungalow of about 1,000 square feet listed at just $500.
Radical cheap: $1,000 homes
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