Note the avg price for a house in Detroit- anybody think it is a mistake?

Walking away from a mortgage isn't illegal; the bank takes possession and tries to sell the house. But "it just puts more properties in foreclosures, and that's the last thing we need right now. That's just pulling the median sales price down," said Karen Kage, who runs a real estate listing service in suburban Detroit.
In Detroit, the median sales price for a home is now a pathetic $5,800, down more than $66,000 from seven years ago. An estimated 16,000 foreclosed homes are on the market in the city of about 920,000 residents. Detroit also has one of the highest unemployment rates in the nation, at around 20 percent.

Detroit councilman walks away from mortgage - Mortgage Mess- msnbc.com