Is $1.75 the Bottom of the Housing Market? October 1, 2008 Joseph Bishop-Henchman Joseph Bishop-Henchman (AP Photo/The Saginaw News: Melanie Cochran) The Associated Press reports that this beautiful (foreclosed) house in Saginaw, Michigan was sold via eBay today for $1.75 plus the obligation to pay $850 in back taxes and yard cleanup costs. (Generally, the new owner of a foreclosed property must pay any accumulated taxes and liens, in addition the purchase price.) The new owner plans to flip the property; good luck with that. $1.75 plus $850 in liens may be low, but is it the bottom? The New York Times has the long-run Case/Shiller Index, which suggests not: Stay informed on the tax policies impacting you. Subscribe to get insights from our trusted experts delivered straight to your inbox. Subscribe Share Tweet Share Email Topics Center for Federal Tax Policy Property Taxes
