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Tuesday, April 22, 2008

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Money magazine rates Cleveland a top place to buy a home (really!)

Posted by Pete Kotz on Tue, Apr 22, 2008 at 5:48 AM

crack%20house.bmp
For $6, you could own this Slavic Village crack house. Add 75 cents, and they'll even throw in the girl!
For reasons that defy explanation, Money magazine recently rated Cleveland as the nation’s 4th best city to buy a home right now. It’s rationale for our Top 10 pick: “Ground zero for foreclosures seems to be benefiting from all those plans to help troubled borrowers. Prices have stabilized and look ready to rise.” Hmm. We’re not quite sure what they mean when they say “all those plans.” But if they’re talking about the guys planning right now to strip the copper from a house that’s been vacant for 17 months, we’ve got it! … At least Cleveland can consider itself in both good and familiar company. Filling in the top five are Boston, Atlanta, Cincinnati and Detroit. Based on research conducted by an intern sitting in a out-of-the-way cubicle, Money seems to think that buying a home in these cities of hope is a good investments. So when you drive through Slavic Village and see all those boarded up properties, don’t think “future crackhouse.” Think potential! Those homes are like week-old bean dip sitting in the back of a refrigerator! It may be growing fur, but it’s cheaper than buying new bean dip, now isn’t it? – Bradley Campbell
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