How bad are things in Detroit?

[nh_mopar_fan]

http://www.realtor.com/search/searchresults.aspx?pg=1&cmid=1090159,1090163,1090169,1090177,1090179&typ=1

[Spike]

Hell you can find deals like that in any state, as long as you don't mind living in a crack hood 

[TUFCAT]

From the looks of it.... PRETTY DAMN BAD!!!    Its really a shame. Detroit is a river city, and by that virtue,  property should be sold at a premium and the city should be thriving.  Unfortunately, its probably the doing the worst amongst all US cities.  It's a damn waste of good land.   

[TeeWJay426]

Hell you can find deals like that in any state, as long as you don't mind living in a crack hood 

Even the crack hoods don't sell anywhere near that cheap in New England.... those are monthly rents here!

[Charger_Fan]

HOLY CRAP! Man, for 2 grand, you could buy 5 or 6 houses all in a row on the same block...level them all...build a damned BIG garage & a little house, with a huge wall around the whole thing to keep the crackheads out. Probably all for under 50 grand or so.

[Todd Wilson]

Estimated payment  5$ a month.  Imagine financing for 30 years and have a 5$ a month payment! HAHA!


Todd

[C_stripes]

I think I am going to buy one just for fun.  Whats the worst that will happen? I'll get shot when I visit.  lol

[NHCharger]

Estimated payment  5$ a month.  Imagine financing for 30 years and have a 5$ a month payment! HAHA!


Todd

I like the one listed for $1,000.00, with a $1,000.00 selling bonus.

[451-74Charger]

Check out the listings on FrontDoor.com

I know, if I didnt work for the company, id be buying them all up too....

[sick dawg]

For those prices I could buy myself the whole town!

[runningman]

I think I work across the street from some of these houses  , You wouldn't want to live anywhere near these "homes".  But yeah the housing market is really crappy around these parts.  There have been 10's of thousands of people being laid off from the auto companies as well as some of the suppliers closing.  A lot of people have been taking buyouts and just leaving town. 

[superduperbee]

These properties are in the ghetto, banks want to unload them as quickly as possible. The banks are loosing money owning these foreclosures, they have to pay the property taxes, plus pay to have grass cut, snow shoveled etc.  etc. . my house has been for sale almost 2years, and I live in one of the better white trash neighborhoods. How bad are things in Detroit? Every week I see another shop or two closing up as I drive my kids to school. There is an area on the north side of the city where literally half the houses in the neighborhood are abandoned, burned out, boarded up. If They Gave The World An Enima, They Would Stick The Tube In DETROIT !

[justin1987]

If They Gave The World An Enima, They Would Stick The Tube In DETROIT !

[Mike DC]

   

Economically/industrially speaking, what's to stop a lot of the rust-belt and midwestern cities from eventually ending up the same way?

Not a whole lot in the long term. 



Detroit is the first & worst example. 
But the conditions that drove it to that point also exist elsewhere to varying extents. 

 
 

[Troy]

   

Economically/industrially speaking, what's to stop a lot of the rust-belt and midwestern cities from eventually ending up the same way?

Not a whole lot in the long term. 



Detroit is the first & worst example. 
But the conditions that drove it to that point also exist elsewhere to varying extents. 

 
 

Yeah, but most of those other places don't have the taxes that Detroit does either (as far as I know). I can't think of a much less business-friendly place to be.

Troy

[Guns N Rotors]

Yeah, but most of those other places don't have the taxes that Detroit does either (as far as I know). I can't think of a much less business-friendly place to be.

Troy

Youngstown, Ohio

[Troy]

After further review, Detroit is one of the worst places to live but, overall, not the worst place to start a business. Hard to run a business with no employees though. Property taxes are the largest drawback.

Troy

[histoy]

Tonight's news talked about the migration of people south and west in our country during the last year.   After they talked about all the boom areas of population growth, they mentioned that Detroit had the largest population loss of anywhere in the USA.

[nh_mopar_fan]

This seems pertinent especially at the 1:00 mark....

http://www.youtube.com/watch?v=C1M0zU2IihI

[PocketThunder]

This seems pertinent especially at the 1:00 mark....

http://www.youtube.com/watch?v=C1M0zU2IihI

\

HAHAHAHAHAHAHAHA!!!!!!!!!           

[superduperbee]

After further review, Detroit is one of the worst places to live but, overall, not the worst place to start a business. Hard to run a business with no employees though. Property taxes are the largest drawback.

Troy

Cost of starting a business here is crazy. When I can leave the state I will do it then. Also the unemployment numbers don't tell the true story. If you add in the people on welfare who've given up looking for work, and the 30,000+ leaving the state each year you get the true unemployment number.

[bull]

I wonder how much land you'd have total if you bought, say, 10 of those $500 houses all right next to each other for $5k, demolished them and built yourself a fortress with a 10-foot razor wire fence around it?

[runningman]

Won't stop the bullets 

[superduperbee]

THEY WOULD FIND A WAY TO STEAL THE RAZOR FENCE AND PUT YOUR HOUSE UP ON MILK CRATES. HAHAHAHAHAHAHAHAHAHAHAHAHAHA

[Charger_Fan]

That's why I was saying to build a huge wall. Set broken glass on the top. Build a 10' wide moat all the way around just inside the wall, with gators swimming in there. Once they clear the top of the wall, they'll be bleeding from the glass & the gators will finish them off.

Sorry, I'm dreaming now.

[justin1987]

That's why I was saying to build a huge wall. Set broken glass on the top. Build a 10' wide moat all the way around just inside the wall, with gators swimming in there. Once they clear the top of the wall, they'll be bleeding from the glass & the gators will finish them off.

Just fill the moat with rubbing alcohol and salt. Then after they cut the hell out of themselves on the razor wire they'll have a little surprise waiting for them.

[superduperbee]

In Detroit here, they steal big trucks and drive them through the sides of buildings[including banks] to steal the ATM machines. Also phone lines and AC systems off big buildings. World famous Kronk's boxing gym moved last year after all the copper plumbing was stripped from the building in the middle of the night again.

[Mike DC]

 
I can't believe people actually steal copper tubing off buildings for profits.  It's been going on for years but it still amazes me. 


The profits being divided among several guys + using a big truck and tools + the labor of removing it + hauling it around to scrap it . . . I get the feeling you'd probably end up with more money from a legit $9/hr entry-level job.  And without the jail time risk. 

[superduperbee]

Every month or so some Moron electricutes himself climbing telephone poles to steal the copper wires. Most times they get away though. Someone will complain that their phone is out of service, and when the phone company arrives, discovers the phone lines are missing. It would be less work to go out and get a job.

[Charger_Fan]

 
I can't believe people actually steal copper tubing off buildings for profits.  It's been going on for years but it still amazes me. 


The profits being divided among several guys + using a big truck and tools + the labor of removing it + hauling it around to scrap it . . . I get the feeling you'd probably end up with more money from a legit $9/hr entry-level job.  And without the jail time risk. 

I guess to them, the best thing about swiping copper tubing is that they can still make their own hours.

[BrianShaughnessy]

My sister just sold my uncle's house on Whitcomb.    He had to move to a nursing home after a stroke.
He bought the house in '50 along with my grandmother until she died.  He lived there most of his adult life.
I wouldn't call it the best neighborhood   I'm sure it had it's day at one time.   And the house was never kept up for the last bunch of years as he fell into declining health - physically and mentally.

It sold for under $10K...  I'm told neighbors bought it... most likely for the garage.    Frankly if it was me I'd level the house and keep the extra space.    I don't think it'd be worth it to repair or modernize the house for what it could possibly sell for repaired or not.

It seems to me the prices are so cheap that perhaps the good folks might start going back and starting over if the employment situations could be turned around.   

20 years ago HUD was selling houses in Detroit for $1 on the promise people would fix them up - it's almost the same way now except it's the banks.    Large sections of Detroit are going back to the wild. 

The real shame of it all is that at one time Detroit represented the American dream.   It had the highest rate of single home family ownership in the country.   

[Mike DC]

   
I read a big long far-sighted article about housing & demographic trends in the U.S. one time.  The housing expert they were interviewing was asked about what could be done with the Detriot situation.  He basically said nothing in the foreseeable future would change it. 


He pointed out that everyone takes it for granted that one city can explode in population because of economic growth, and they see nothing troubling or weird about that.  But everyone reacts with disbelief & hand-wringing when another city that has lost its economic anchor begins to shed massive population. 

He basically said we're trying to save Detroit as a reflex, not because there's any real reason to continue to have a large population centered there in the future. 

[4cruzin]

Detroit doesn't have the highest murder rate in the country because we have more crime . . . . . its because were better shots.