If you would like to be added or dropped from the Michigan ping list, please freepmail me.
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 ...
Sell vacant land to neighbors? hahahahahahah
You don’t understand the scope of Detroits collapse, there are ENTIRE BLOCKS without a single person living in any of the houses. Go look at google earth, you can find neighborhoods where at one time the entire block in a nice area had 9 or 10 lovely victorians, only 3 exist now on the entire block, the rest of the block has been raized. You go into the tougher areas, and you can find entire blocks of homes without a single one not abandoned.
I think you estimates of a raised home making you 12k in parts is grossly overestimated. Not to mention, if you don’t find a buyer for that lot after you have raised it, you are on the hook for the ongoing property taxes for it.
And yet the Suburbs thrive. Why? Because they get fairly priced services and feel safe and secure?
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.
People vote with their feet. The middle class felt that the City did not care about them so they left. They saw unwed mothers getting subsidized rent, electricity, and health care all on their dime.
Detroit in the 1950's had the BEST school system in the country. Now 25% will graduate. The DFT is the Number 1 employer in the City of Detroit. Since they are obviously not educating children what are they doing?
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.
Has it EVER been tried? NO. Income tax rates for Residents (when I lived there)was 2.5%. For all of the first ring suburbs it is 0%. Hmmmm. Suburbs growing, 0% income tax; Detroit dying 2.5% income tax.
Why in God's name would I choose to live in an over taxed, under served City with the worst education system in the country and pay 2.5% of my income to do it?
In the rational pursuit of self-interest I voted with my feet and left in disgust.
Fair enough.
I still think I could turn a profit on the lumber, brick and fixtures. Even if it meant doing a quit claim on the lot.
>>Not a racist observation, just an obvious one...<<
No, actually it is racist.
Check with any African and see what they think of American blacks.
You will see that there is a difference eventhough the skin is the same. And along with that, my sister, my nieces and my great-nephews are as hard working (well not the babies) and conservative as I am. You see a problem with them because of the color of their skin.
The problem is you.
>>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.<<
Truth be told.
They have my 2000 square foot home listed as 900 square feet so the price is listed less than a home across the street that is only 1000.
My nephew is a DEA agent, working at his first assignment in Detroit. He says for him, business is booming!
Are Obama And Rahm Emanuel Preparing Us For Nationalization Of General Motors?
CBS Sunday Morning | MB26 and CBS Sunday
Posted on 03/02/2009 5:39:27 AM PST by MindBender26
http://www.freerepublic.com/focus/news/2197186/posts
“You’d have to pay me about $100,000 a year to even think about moving to any home in Detroit.”
I assume you’re talking about the city and if you are, you really have no idea what you’re talking about. Detroit is much worse than you can imagine.
>>What is racist about the obvious?<<
She’s right.
I have some black friends here in Michigan who voted for Obama and would go out of their way to help anyone. When we debate politics, they listen and disagree (or agree, sometimes) very respectfully.
People are people. Detroit is full of the same type of socialists who brought on WW II.
I figured as much. I didn’t know if there’d be a remote chance they had another excuse, but I wasn’t holding my breath either.
I lived in Walled Lake for a while as a kid back when Al Kaline and Rockey Colaveto were Tigers.
I’m afraid of downtown at this point.
Was there two years ago on way home from Macinac Island.
If you would like to be added or dropped from the Michigan ping list, please freepmail me.
taxes aren’t assessed based on what you paid, its based on what the state thinks the house is worth. taxes would probably be the same as on an $80,000 house.
of course it was mostly non-union jobs that left. why would the guy that’s making 2x what anyone else in his profession is, plus great benefits, and has job security give that up?
I’m not sure I follow. Are you suggesting that someone making half as much will happily give up his job?
its not just detroit. its also ann arbor (lib hippy college town) flint (which is detroit on a smaller scale), and lansing (UAW). not to mention that something like 1/3 of the entire state’s population is in the detroit metro area.
Pete Hoekstra (R-2nd District) needs to step higher. Knock of Granholm or Levin.
no, i’m saying that union folks haven’t had a lot of reason to leave- they have it too good.
but the guys making less money, yeah, they’re more likely to give up their job if they can get another job out of state that pays better.
“I wonder what property taxes are on a $7500 home?”
In what State? In Michigan they would be about $5000.
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