Skip to comments.Detroit's Foreclosed Homes Attract Outside Buyers
Posted on 03/08/2009 1:55:27 PM PDT by Extremely Extreme Extremist
DETROIT Welcome to Landlord Nation, where foreclosure notices are plentiful and for-sale signs offer at least 1,800 homes for under $10,000 that once were worth at least 10 times more.
In extreme cases, homes are on sale for $1 or less, which has enticed investors to Detroit from as far away as the United Kingdom and Australia.
"In the past few months, I've picked up 10 new clients from out of state that are buying in bulk," said Mike Shannon, a suburban Detroit real estate agent. His office specializes in foreclosures in a city that's among the national leaders.
"They're coming to us, saying 'Look, I want to buy 50, 100, 1,000.' They want to own every decent and cheap house they can find."
(Excerpt) Read more at foxnews.com ...
Wait till they get their property tax, water, sewage, fire insurance, and any other cost the corrupt politicos can hit them with. As absentee landlords, the real shock will be their vandalism repair costs.
LOL, RAOTF! I have personal knowledge that this has been a popular, but totally failed, real estate strategy in Detroit since 1962. The key to economic success within the city limits of Detroit lies within the saying, "But for the absence of goats, Detroit is a third world city!" Some day, with all the vacant, trash strewn lots with tall grass, Detroit will be a economically viable environment for raising large numbers of goats.
Fools rush in, where wise men fear to tread...
It is like selling property in Darfur.
So I gather you have in Detroit?
I saw documentry on TV a few weeks ago where a Canadian Real Estate tycoon is investing in Detroit.
Also the surrounding county wants to invest in major sites and most likely trumpt the looney tunes running the City Council.
Actually, that’s a good idea—which is why it would never, ever be considered.
In Detroit, the property taxes are what will choke you.
You are ahead of me. I'm just using common sense. Land is like Gold--sooner or later it will pay off even if it's your grandchildren who get to cash in!
A fool and ther money are soon parted.
As a former native of Detroit, These foreign investors have no conceptual idea of what the real Detroit is or ever will be.
Better to level the whole city to Eight Mile Road and give out forty acres and a mule and start over.
Detroit - a turd world city
Detroit Denby High School, Class of 1967
If you mean 'live', no - relatives do.
Really I am so tried of all of you is is the easiest thing in the world to knock Detroit, Michigan
Indirectly it is all of our faults who did not fight the R word and PC world, Victim mentality, entitlement programs, affirmative action etc.
Like all those who con us we should have understood the facts of life...
You can not cry over spilt milk
Nor can one think they are owed a pound of flesh.
Because of the injustice to many ancestor in the pass
Each race has a record as a whole of the trials and tribulation here on earth
It pains me and I bet many other who was born and raised in Michigan seen it taken over by the parasites and non producers!
It pains me to read and hear that all so many can do is Bitch and moan now that the Golden Goose of America has been neuter by discontent Black Marxist who listen and were subdued by the secular humanist who is composed by those souls who rebel against God!
Now back to
Dont cry over Spilt Milk
Is it not time we stop catering to the phony contrive words whose meaning are ass backwards!
The R word and the PC world
In Detroit Glory day every one only had praises for the Engine that drove America economy what came out of Detroit was spread all across this fruited plain.
So should we not as a people all join together to retrieve and restore America to her rightful place in the world with faith and push ward to remove those who stand in the way of goodness?
This is not met to be personal just a pled to honor those things that God has bless upon those who Love him!
If you're tired of all of us, stop reading the threads and just stick with the articles. That's easy enough.
It's not our fault, directly or indirectly, that Detroit has all the socioeconomic allure of, say, Mogadishu. Your assertion is so faulted I scarcely know where to begin, apart from pointing out the obvious: Even discounting voter fraud, rats outnumber GOP by at least a five to one margin in Detroit. How do you suggest we change that? Those numbers are insurmountable, and they are the root cause of Detroit's problems. If you want to feel guilty that a once thriving city has been circling the drain since the late 1960s, go right ahead. You are not going to make me feel any of that guilt.
Maybe I just don't understand your post at all.
Yikes it seems to you dialogue is not an options!
How to win friends and influence people!
It's not our fault, directly or indirectly, that Detroit has all the socioeconomic allure of, say, Mogadishu. Your assertion is so faulted I scarcely know where to begin, apart from pointing out the obvious: Even discounting voter fraud, rats outnumber GOP by at least a five to one margin in Detroit.
Those numbers are insurmountable, and they are the root cause of Detroit's problems. If you want to feel guilty that a once thriving city has been circling the drain since the late 1960s, go right ahead. You are not going to make me feel any of that guilt.
How do you suggest we change that?
Well endless railing is no solution either, nor not taking responsibility for not doing nothing along the way! (people as a whole) Also this attitude is so myopic, one needs to have vision to look back and see the short comings as well as to look forward beyond the heap of garbage.
One can not take these things personal if they want to make change, just as much as one has to guard against from being disconnected
One needs to realized that on some level it is always the other party involved fault, meaning if another group is dissatisfied they will look elsewhere for relief (from pain be it mental or physical) sorry some will even listen to the Marxist, and some are just plain evil anyways (those are hopeless) but the truth is they can lead others to follow them.
Maybe I just don't understand your post at all.
Maybe you dont
Maybe through my ignorance how not having the ability of seeing what I see now as I reflect back.
Today the bigger picture is available for those who choose to see (it)how it unfolded...
The point I am trying to make now is that these words of Edmund Burke have been true all through history.
"All that is necessary for the triumph of evil is that good men do nothing." (Edmund Burke)
We need to clean up those area of the republican party in Michigan where they bend over to accommodated the Marxist PC. (this goes for the nation as a whole).
Some among us have talent to motivate change (no pun) to those who might be struggling to understand what their roll is towards the opposite party, if not vote them out!
Somehow when doing political ads the most important part of it should be that those who are working hard for their family and who want to be good neighbor are defeating their efforts if they don't vote those who dont vote undermines their effort to protect their family and community.
We need to plant a wholesome political garden, sense we are a two party system and the Republican party looks like it still can be salvage.
Just like every where else in this state there are good folks in Detroit who desire a better quality of life and would rally around but they need good leadership to move them out of the comfort zone and remind them it really is a nightmare zone.
These people need to be shown that comfort zone is not a comfort zone and they need to boot out that pied piper.
I am sure there are good people in Detroit who want to run for office but they are bucking a mind set of the people who needs to be thawed out, unlocked!
How is that done?
A sincere change of attitude, a change of heart towards things or a situation please there is a lot of power in Love!
I don't mean selling out our principals but a better attitude helps to thaw out a lot of pain and enables hope!
It gives courage to those who are in despair.
Guess what, Pollyanna: Most Detroiters will take their Bridge cards over our love, eight days a week.
Dialogue is always an option. You began this by stating how tired you are of, I don't know what exactly--our griping? Is that an invitation to dialogue?
No more rhetoric, okay? Offer up at least one--ONE!--solution that is actionable with regard to Detroit. One.
See? That's an invitation to dialogue.
FCOL what does that mean?
For crying out loud
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