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Study: Detroit less costly than Hanoi

Coldwell Banker compares cost of 'aspirational' 4-bedroom home

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If the cheap cost of living used to be one of the perks of working overseas, today's corporate middle-manager may find a better deal on a home if she's transferred to Detroit than Hanoi.  That's according to Coldwell Banker Real Estate's annual Home Price Comparison Index, which compares similar 2,200-square-foot homes in 310 U.S. housing markets, and in 57 markets in 29 countries outside the U.S.Comparing like homes sets the report apart from others that simply compare median home prices, Coldwell Banker said."The four-bedroom, two-and-a-half-bath home is one we deem 'aspirational' and usually purchased by move-up buyers experiencing lifestyle changes," said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC, in a statement.Coldwell Banker's aspirational home must also include a family room or its equivalent, a two-car garage, and be located in a market "typical for corporate middle-management transferees."In 30 percent of mar...