Foreclosed 3 bedroom house in Windsor, Ontario selling for under $30,000…yet no offers on the property…

If there is a real estate bubble in Canada, you sure can’t see it from Drouillard Road.

Three-bedroom houses in this hardscrabble neighbourhood can be had for less than $30,000. Yet there are no offers. Several houses on the busy semi-residential street sit empty, with foreclosure notices posted in their front windows. Nearby, corner stores that used to be open 24 hours a day have shut down.

It’s a far cry from the Toronto and Vancouver markets, where prices are leapfrogging and dinner-party chatter has once again turned to the latest neighbourhood bidding wars.

Read the full article, “The home price puzzle” in the Globe and Mail (Feb 19, 2010).

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