Michigan

The cheapest housing markets aren't always the most affordable cities for first-time home buyers and existing homeowners. Here's a look at 12 cities with low home prices, but where other factors put a damper on purchasing power.

The largest single-family investors slowed their pace of acquisitions years ago, but plenty of smaller firms are picking up the slack.

The Michigan company had fewer gains from loan sales. It also reported an increase in noninterest expenses.

More than $106,000 was transferred into the Cheboygan County, Mich., general fund from the treasurer's office from the sales of tax foreclosures in the county.

Comerica Bank will invest up to $5 million in Detroit Home Mortgage, which provides second mortgages to buyers so they can get past the city's appraisal gap problem.