Charlie Buttrey

July 27, 2021

With real estate prices skyrocketing everywhere, it was downright refreshing to see a 19-acre lot on Lake Erie in the small Canadian hamlet of Shrewsbury (east of Detroit) going for a mere $80,000. At that price, you’d expect there to be a catch.

There is.

According to this article at The Real Deal Real Estate News, the entire lot is underwater. And there is no land access. Which hasn’t discouraged the real estate broker. The sales pitch? “This property is presently underwater but could have endless possibilities in the future. Be creative.”

Discuss.

 

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