Detroit housing

[BobJoe123]

I ran across this today and was honestly shocked at how bad Detroit is doing.

2200 houses less than $10,000.
http://www.realtor.com/realestateand...le-family-home

Then you look at the crime statistics:
http://detroit.areaconnect.com/crime1.htm

What could possibly fix this mess? GM doing better isn't going to solve this problem.

edit: look at this beautiful house. 5000 sq ft for $279.

[Sandbagger]

yep things are bad...... and not going to get better anytime soon. The state is doing NOTHING to bring any other industry in so no jobs.

BTW while that is a heck of a home, you wouldnt want to live in that area.

[madpoet]

Just buy a whole block for cheap and tear it all down, then build to suit.

[sbisheff]

Just buy a whole block for cheap and tear it all down, then build to suit.

Just be sure to build a VERY tall fence all the way around the neighborhood so no one can get in :stirthepot:

[dvenardos]

In SoCal I paid $320K for my 3 bedroom 1000 ft^2 house in Dec. of 2007, three years ago the same houses were going for $500K. Of course, you could probably have gotten a reverse amortized $500K loan for $1,700 mo for five years. :yes:

[BobJoe123]

Just be sure to build a VERY tall fence all the way around the neighborhood so no one can get in :stirthepot:

With the cheap houses I could probably afford armed guards to keep my city block secure.

It really looks like they need to just level those neighborhoods and start over.

[BobJoe123]

BTW while that is a heck of a home, you wouldnt want to live in that area.

It is sad to see such a beautiful home that no one wants because of the surrounding community.

[dguarnaccia]

They just need Robocop to set things right..then all will be well...