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By Laura Sternberg, About.com Guide to Detroit

Detroit Foreclosures: A New Industry?

Wednesday April 16, 2008

You know foreclosures have become a way of life in Detroit when there are enough to justify a foreclosure bus tour for potential homebuyers. According to Karen Bouffard in an article for The Detroit News, at least two realtors at RE/MAX Vision in Birmingham are acting on the market change and educating homebuyers on the option of buying a foreclosed property. The first "the4closurebus" tour was on April 6th with possibly more to come.

Homebuyers aren't the only people looking to find a bargain. According to the Detroit Free Press, out-of-state investors have gotten the word that low-priced properties are readily available in the city and state -- even though Michigan dropped to eighth in the nation for foreclosures in March.

As the trend continues and consequences mount, the housing crisis is becoming a bigger and bigger issue that is finally being addressed by all three remaining presidential candidates. Find out what the candidates have to say and what they plan to do:

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