Houses Are Selling For Less Than Cars In Detroit.
Posted by
david |
March 21, 2007
Yikes…wouldn’t want to own property in Detroit right now….then again, I could move in and buy a neighborhood for myself, no?
At least 16 Detroit houses up for sale on Sunday sold for $30,000 or less.
A boarded-up bungalow on the city’s west side brought $1,300. A four-bedroom house near the original Motown recording studio sold for $7,000.
“You can’t buy a used car for that,” said Izairi. “It’s a gamble, and you have to wonder how low it’s going to get.”
Um, anyone live in Detroit? I knew it was bad, but not THIS bad!
Posted under
Lifestyle, saving, strange |
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8 Comments so far
Well, yeah, a boarded up burned out house
in a bad section of town will sell for less
than an Acura, DUH!
Where have you been?
Obviously.
I would imagine that those are crack houses (possibly condemned) on postage stamp lots in a horrible part of town.
I agree Nickel…it is just amazing to me that a city can fall so hard!
My curiousity is
Who is buying this property?
I would think that with enough money you might be able to buy up enough land, sit on it for a while and make it into something better.
Tear down the houses, make dirt lots (unappealing) and then start building Condos or try to rezone for a commercial area… just a thought.
My thoughts too Dawn…I could own half of that area for the price of a 1 bedroom condo out here…
Wow, I wonder who can turn such a city around? I knew it could be bad in real estate, but that bad?
I’m thinking I should buy the whole town with a few people and hold it for a while…it’s Detroit after all, it will come back eventually even if it is 100 years from now….