Bringing Detroit to Your Hometown: Foreign Investment In US Housing

Confounded Interest ^ | 04/06/2013 | Anthony B. Sanders

[whitedog57]

I love free market solutions to economic problems. For example, what can we do with the Detroit housing market where houses have been abandoned and houses sell for $1,000 – $15,000 making it one of the most affordable cities in the USA.

My new favorite business for helping to clear up the excess inventory of housing is Detroit Turnkey Properties where they help investors purchase Detroit housing inventory.

“Let us bring our city to your city. Detroit to London. Detroit to Sydney. Detroit to Dubai. Detroit to San Francisco. Detroit to your hometown.”

Bring Detroit to your hometown?

From http://www.spotcrime.com, Detroit crime over the past two months.

Detroit did experience a growth in house prices until 2005, but declined dramatically afterwards. So Detroit started to fade in terms of house prices prior to the national downturn and well before the recession. Detroit is finally stabilizing.

Detroit single family mortgage foreclosures (according to “We Don’t Own This”) is pretty scary, but improving as the market stabilizes.

At one point, Detroit was the economic powerhouse of the USA thanks to the automotive industry. But not any more.

There are numerous videos on the internet discussing Detroit’s fall. Here is one video of what happened to Detroit, but it doesn't discuss WHY people has been leaving Detroit in droves. Here is another on Detroit’s crime and housing. And here is a more bombastic explanation of what happened to Detroit.

In short, Detroit housing prices are lower than in most cities. But when the Detroit police warn you to enter at your own risk, you had better think twice.

[whitedog57]

Detroit is the classic example of government destruction.

[cripplecreek]

Things are looking up in Detroit but true restoration will require driving the race baiting social justice preachers from the pulpit, and restoring the family, and making the people understand that they should demand better from their elected officials.

BTW I find it interesting that Lansing has hit their debt ceiling and announced that there will be no more municipal projects till the debt comes down some. Seems that they fear an emergency manager.



Michigan legislative action thread

[YankeeReb]

Progressive policies killed Detroit and the auto industry. The same way they’ve killed a long list of cities in the deep blue states. NYC was headed in that direction but Wall St and Rudy Guillani saved it. Sadly, under BloomTurd the old progressive big government policies of the past are coming back. If the NY Dems succeed in driving Wall St out of the city , NY will be Detroit in another 20 years

[Vaduz]

Agree and Los Angeles is the west coast Detriot.