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The list spans across the nation from Florida, to New Jersey to Ohio. But Michigan catches the brunt of the poorly priced real estate market, with Detroit taking the best of the worst honor by having the median listing price is $21,000 for a house, according to Trulia.com. That kind of change might get you a Chevy Cruze or Hyundai Elantra.

A new midsize sedan in the driveway should not cost more than the house it’s parked next to.

In reverse order, here’s the list and the city’s median price for a home. Sadly, it’s easy to pick a vehicle that costs more than any of these prices.

10. Port Richey, Florida: $59,900
9. Holiday, Florida: $59,900
8. Youngstown, Ohio: $57,550
7. Dearborn Heights, Michigan: $55,000
6. Whiting, New Jersey: $52,450
5. Warren, Michigan: $49,900
4. Redford, Michigan: $40,000
3. Gary, Indiana: $39,900
2. Flint, Michigan: $31,950
1. Detroit, Michigan: $21,000

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Hip-hop power couple Alicia Keys and Swizz Beatz have put their beautiful NYC home up for sale. For just a little under $18 mil, the 6167-square-foot triplex with 5 bedrooms, 4 full bathrooms and 4 powder rooms can be yours! They’d definitely be making a come up if they get their asking price, as they bought it for $12.7 million from Lenny Kravitz back in February 2010.
The crib features terrace views of Soho, a private wine cellar, master suite with spa, gourmet eat-in kitchen and a floating glass staircase. Check out some pics below. Read More

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Spotted: Forbes

Less than two months after Aubrey “Drake” Graham listed two posh Miami, Fla. condos for sale , the celebrity rapper has managed to flip them and turn a nice profit. Listed for $2.5 million, the final sales price for the side-by-side units was $2.4 million, a minor discount of 4%.

Drake, a Canada native valued at $11 million, purchased the units for a combined $1.9 million in January 2011, before re-listing them on the market at a 32% price hike this past January. The sale represents a 26% return on his investment, grossing nearly $500,000 before fees and taxes.

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Michael Jordan’s longtime personal residence in suburban Chicago is for sale.

The sprawling estate is in Highland Park, along Lake Michigan, and has more than 56,000 square feet of living space and is on sale for $29 million..

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source: Forbes

The folks at Local Market Monitor compiled a list of the 13 cities that suffered relatively big home price hits this year with more projected through the next 12 months. LMM sifted through market data for more than 300 Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MSADs), as defined by the U.S. Office of Management and Budget.  The company crunched home prices from October 2010 through September 2011 and calculated price projections through September of next year, taking into account job growth, population growth, sales and rental prices.  Checkout full list after the jump.

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Talk show queen Oprah Winfrey has put her luxury $ 5.6 million Chicago apartment up for rent for $ 15,000 a month.

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A London penthouse was recently purchased for $221 million by a Ukrainian buyer who concealed his identity using an offshore company and a confidentiality clause.

The mystery buyer has been named as Rinat Akhmetov, Ukraine’s richest man, with a net worth of $16 billion.

The new owner of the three-floor London penthouse is also a soccer aficionado. He’ll be playing host for the 2012 Euro Cup at his new $400 million stadium in his hometown of Donetsk.

spotted: Forbes