A 'For Sale' sign stands in front of a house on May 31, 2011 in Chicago, Ill.
A 'For Sale' sign stands in front of a house on May 31, 2011 in Chicago, Ill. - 

Looking for a steal on a house? There's a handful of homes in Indiana going on sale for one dollar. But there's a catch. There are strict rules around making sure the houses are fixed up and compliant with city code quickly after you buy the home. They're available to locals in Gary, Indiana -- a city hit hard by the mortgage crisis and the long decline of U.S. steel. 

Karen Freeman-Wilson, mayor of Gary, Indiana, joins Marketplace Morning Report host David Brancaccio to discuss. 

Click the audio player above to hear more. 

Follow David Brancaccio at @DavidBrancaccio