Detroit anyone?

[Hugh]

http://money.cnn.com/2009/06/11/real_estate/investing_in_Detroit/index.htm?postversion=2009061117

After reading the story, I wish I got extra money to try my luck.

Too bad, I trusted some smooth yahoo and now have to deal with it. :(

Yes, I know, I am stupid. ;) :)

[Jason]

Wow....

[skullguise]

Interesting....I remember back in the late 80's, Dallas had some amazing deals as well. A three-floor townhouse condo, JUST outside the city limits, new construction (was literally I think 1-2 years old), with a garage.....$39K

Now, Detroit, though....always has me thinking of THIS :biglaugh:

[Sandbagger]

There are some VERY VERY nice areas still of the city, but like the area points out some areas I wont even drive through..... and that is saying something. I wished I had money, because I would be buying some myself, although probably not in the city, but in the suburbs.

[alhull]

There are some VERY VERY nice areas still of the city, but like the area points out some areas I wont even drive through..... and that is saying something. I wished I had money, because I would be buying some myself, although probably not in the city, but in the suburbs.

But you won't find houses for $10K out in the suburbs...I live about 20 miles west of downtown Motown...

[Cujobob]

I live 4 miles from the Detroit border of Warren...my friend has been house shopping (he lives up north a bit and wants to move back)...from what I've heard, only houses worth checking out are $30K+ and need a bit of work. The areas those houses were in probably won't be getting better anytime soon, either. If the politicians in Michigan cities weren't braindead and the economy didn't depend on a soon-to-be-dead market, might be worthwhile.

The time to buy was before Archer came in as mayor. Right before he left office, housing prices in Detroit were looking pretty good. Buddy of mine double the value of his home in just a few years.