Town selling vacant homes for $1 a pop

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In a city where a third of homes are vacant, Gary, Ind. is attempting to combat blight by selling some of them for $1, The New York Times reported.

Nearly 400 people picked up applications to cash in on the deal the first day they were made available, according to The Times. Of those, the city will ultimately select 12 buyers, the newspaper said.

To qualify for the program, applicants must reportedly meet a minimum income requirement and prove that they have enough money to bring the home up to property code within six months.

Source: The New York Times