Posted on 03/02/2009 3:13:07 AM PST by Mikey_1962
It may be tough to get financing for a new car these days, but in Detroit you can buy a house with a credit card.
The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.
Not $75,000. Remove a zero—it's seven thousand five hundred dollars, substantially less than the lowest-price car on the new-car market.
Among the many dispiriting numbers that bleakly depict the decrepitude of this onetime industrial behemoth, the steep slide of housing values helps define the daunting challenge to anyone who wants to lead this shrinking, poverty-pocked city of about 800,000 people.
(Excerpt) Read more at chicagotribune.com ...
According to the most recent polls, the Democrats are going to get their hinders handed to them in that state in 2010.
Thank you, William Jefferson Clinton.
At that price it would almost be cost effective to pick up houses and move them to Chicago, Cleveland, Buffalo etc.
Yes, but let's face reality and acknowledge that black, and to somewhat lesser extent Hispanic, voters are especially likely to do this. McCain won handily among white voters. I don't think Americans of any color will do well under a majority that is black or Hispanic. Look at Zimbabwe or Venezuela. Btw I am Asian Indian.
Bloomie says 40,000 rich suckers pay what, 80% of N.Y. taxes?
I’d say about 12 rich suckers pay 80% of the taxes in Detroit.
You’d have to pay me about $100,000 a year to even think about moving to any home in Detroit.
(Median Price $7,500 really!)
CHEAP FOR A REASON!
Don’t go racist. It’s wrong, and it hurts us. Criticize the people there for their conduct, attitudes, and the institutions that led that city to where it is. Skin color is not a predeterminant of behavior, and the moment we act as though it is, we give credence to those who reflexively scream “racist” whenever we criticize the conduct of someone different from ourselves. Moreover, we lose the benefit of those people who have extraordinary (or even ordinary) skills and abilities to contribute to our cause.
A plant by the Obama support team couldn’t do a better job of undermining the conservative cause.
Support me here, folks.
What is racist about the obvious?
>>What is racist about the obvious?<<
Because black has NOTHING to do with it. There are tons of white people in Detroit. I see them here on Fox2News. And at the same time, here in my neighborhood 40 minutes north of Detroit, our families of color are wonderful, care a ton about the neighborhood and are more conservative than I am.
Race isn’t it, my friend.
Right in the middle of Detroit is a city called Hamtramick. It’s old Polish White and Muslim. It’s a freakin’ war zone there without “black” in the mix. Trust me, the problem is Dem, not color.
See 48.
Give Detroit to ACORN, and they can demonstrate how to create the utopia they desire.
Looks like a real fun place.
My favorite line:
On a positive note, Detroit's homicide rate dropped 14 percent last year. That prompted mayoral candidate Stanley Christmas to tell the Detroit News recently, "I don't mean to be sarcastic, but there just isn't anyone left to kill."
Falls in line with all Socialist thinking, don't create more wealth, redistribute existing wealth until everybody is equally poor.
This is just housing, but it works the same for incomes.
The people who elect them don’t care, they aren’t paying the taxes. If funding for welfare was abolished at the state and federal level, then welfare recipients would not be able to achieve a high enough concentration in any one place to be a voting majority.
At what point does it become economical to apply for a razing permit, and dismantle the house lock stock and barrel and sell the lumber? Is there more than 10K of lumber in a house? I would think so. The fixtures should bring 2K I suppose via craigslist. I’m thinking buy, tear down, sell vacant land to neigbors for a few dollars to give them a better yard and a garden. Any thoughts?
The essence of politically-correct non-think is to refuse to notice the obvious.
Note that this does not mean that ALL blacks are embedded in this culture. Unfortunately, a voting majority of them seem to be.
$10.50 is the amount of the latest bid, if I'm reading it correctly. There is a "Zillow" value of $88,500 claimed.
In the area where I reside in Queens, New York - homes as those pictured, in good condition are going for Five Hundred Thousand and up. There is a home up the block where I live: an attached-brick structure: three bedroom, shared driveway, small plot of land in front and same in back. Overall, nothing spectacular and they want over Six Hundred Thousand!!!!!!! These are the real estate prices where I live in New York. They are cheaper in a more diverse area, but the area is not safe and the schools are horrendous. Long Island, seems ideal but the hurdles are tremendous: Taxes, Rail Pass-*(LIRR)* and the Long, Long Commute-*(the rush hour traffic going East to Long Island on the Long Island Expressway is a bloody nightmare.)*./Just Asking - seoul62.......
While I will not defend Detroits governmental management, the above statement is ideological tripe more than reality. No one will stand here and defend detroit's government, but to claim detroit is where it is simply because of tax and social policy shows complete and utter ignorance.
Detroit grew to the size it was due to one thing, Auto Industry, the scope and scale of that industry is unfathonable to most people, and when it decentralized and globalized, Detroit had no direction to go but down. No city, no matter how well managed could survive the scale of collapse that Detroit has seen or would have seen even if supurbly managed.
Pittsburgh is an example, at its peak in the 50s the city had a population of 600kish people, its been in decline since then, now the population of the city proper is closer to 300k. that's a 50% fall in 50 years, and the city has been able to adapt, its not perfect, but its adapted, its not completely overrun with abandoned homes (though they certainly are there).. Now lets look at detroit..
Detroit has lost more than 50% of its population as well, from a peak of 1.9 Million in the 1950s, its now less 900,000.. The scope of that decline is unfathonable. 900,000 people, in 50 years. Add that to the decline of wealth that the city built to support 2 Million, has to deal with with less than 1 million people left. Think about it, just assume you have 4 people per housing unit, that means there are 250,000 housing units that have been abandoned in the past 50 years, 5,000 housing units a year just abandoned... Now, given it takes years for these abandoned properties to be foreclosed for back taxes and costs to deal with it, and using a baseline of $7500 to actually demolish the structure, lets say it averages out at 10,000 per house to get it demolished, thats, $50,000,000 a year just to demolish abandoned homes!! $50 Million a year just to keep up with home demolition which is outrageous and of course no city much less one in decline can keep up, because the fall has depleted the economies of scale the city once had. The more the city loses people the worse the cost per resident becomes, because you have 1/2 the people spread out over what was an entire cities area, etc etc etc.
You can't solve these scopes of issues by simply cutting taxes and lowering spending, those things in and of themselves cannot save Detroit and its utterly ignorant to suggest it will.
Again, no one will defend how Detroit has been managed, however no management no matter its ideological center would have prevented Detroits collapse, the city was destined to pass the tipping point based on factors far beyond its control. The best management in the world would have only slowed the inevitable, it could not have prevented it.
If you rely on ZILLOW for your properties market value, you need to move a few more rungs up the ladder to reach idiot status.
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