Saving up for a home's down payment can be a hefty task that's financially out of reach for many. But the town of Gary, Indiana has a special program to make home ownership easier by selling a handful of homes every year for just $1 apiece.
Called the Dollar House Program, the initiative opens home ownership up to those who would not otherwise be able to afford a traditional mortgage sale, says Lakia Manley, the housing coordinator of Gary's Community Development Division.
The program also addresses a chronic problem for the town. Since the 1960s, a decline in the steel industry has led to a dwindling population and an abundance of unoccupied and abandoned homes, Business Insider notes.