My Smart Cousin

What can you still get for $1 these days?  Scratch-off lottery tickets? A paltry few items at the Dollar Store (now the home of $1.25 items)?  A suspect candy bar in an unlit corner of the neighborhood corner store? Now you can add a whole house to that list. The Housing and Urban Development Agency (HUD) sells homes to local government agencies for $1, under an initiative to help communities foster housing opportunities for low and moderate income families. The so-called “Dollar Homes” are made available to local governments to buy if the HUD-owned homes have gone unsold for at least six months. The market value of these homes is less than $25,000.  A $1 price tag allows local governments to buy the homes at a significant discount, rehab them and sell them to low-income and moderate income families. While the qualification criteria are stringent, this offers an attractive path to home ownership.

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