Houses in Dayton for sale on eBay with starting bid of $1

Dayton Daily News reports:

After years of predatory lending, waves of job losses and a rising tide of home foreclosures, parts of the Dayton housing market have come to this:

A little over a week ago, a three-bedroom home at 128 N. Decker Ave. went up on eBay for a minimum bid of $1.

Aaron Sorrell, housing and development manager for the city of Dayton, said the North Decker house is a “prime example” of a trend that is devastating neighborhoods in the urban core.

“As banks foreclose on these properties, and when they sell bundles of properties to investors at $5,000 a house, it’s driving down appraised values in these neighborhoods,” Sorrell said.

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