Posted on 08/04/2015 10:12:44 AM PDT by Oldeconomybuyer
At a time when home prices nationally are, if anything, showing signs of being too strong, the picture in Baltimore is the opposite.
According to CoreLogic, prices in the Baltimore-Columbia-Towson metro area were down 8% in the year ending June, the worst showing of the 100 biggest metro areas. Nationally, prices rose 6.5% in the 12 months ending June, CoreLogic says.
Whats driven that is a huge rise in foreclosure sales. Foreclosures known in the business as real estate owned accounted for 52% of all transactions in Baltimore in May dwarfing the national average in the low teens, according to Sam Khater, deputy chief economist at CoreLogic.
(Excerpt) Read more at marketwatch.com ...
A friend came from Australia and I took the Amtrack with him to NYC. He was astonished beyond words to see block after block of abandoned housing as the train passed through Baltimore. There was nothing even remotely like that where he was from.
I’m stumped. I tell you, totally clueless. Let me know when you figure it out.
Otherwise known as “Law abiding citizen flight”
Must be due to global warming.
AffAct Marxist morons in positions of political power always necessarily results in a negative fundamental transformation of all civilized values, e.g., tranquility, rule of law, wealth creation, etc.
#SubprimeLivesMatter
Maryland “Freak State” PING!
Very sad really. Baltimore was once such a beautiful city. I know of situations in which, during the time that O’Malley was mayor, there were people who bought city houses at very low prices and then attempted to flip them or fix them up for themselves.
So many wound up abandoning their plans because O’Malley refused to clean up the crime. The people who could have greatly expanded the Baltimore tax base gave up. There are only so many times a sensible person is going to put up with being mugged, having his tools stolen, and having his car and his house broken into.
Someone suggested recently on FR that perhaps O’Malley has been in the pocket of the drug cartels. Could be.
I can’t wait to leave this godforsaken state!
There is life beyond that hell-hole of a state. Good luck as your time to escape approaches. Don’t look back when you do leave.
Baltimore has been dying for years and anyone who had the money gets out of the city as soon as they can.
1940:1,623,452... whites (90.71%) blacks (9.19%), #4 US city by population
Now WWII comes along, and the manufacturing boom adds 360,000 residents in 3 years.
1950: 1,849,568... whites (83.58%) black (16.25%), #5 (LA passes by)
1960: 1,670,144... whites (70.83%) blacks (28.87%), #5
The black population DOUBLES in a decade, and 300,000 whites leave. For 50 of the 57 years between 1905 and 1962, Detroit's mayors were Republican. In 1962, the last (ever?) Republican mayor of Detroit leaves office. Then, in 1967, the Detroit Race Riots take place. Now watch...
1970: 1,511,482... whites (55.50%) blacks (53.98%), #5
1980: 1,203,339... whites (34.38%) blacks (63.07%), #6 (Houston passes by)
1990: 1,027,974... whites (21.63%) blacks (75.67%), #7 (San Diego passes by)
2000: 951,270... whites (12.26%) blacks (81.55%), #10 (DAL, PHX, SA) 2010: 713,777... whites (10.61%) blacks (82.69%), #18
From 1960-1970, 300,000 whites in Detroit left...
From 1970-1980, HALF of all whites in Detroit left... (838,000 to 413,000)
From 1980-1990, HALF of all whites in Detroit left... (413,000 to 222,000)
From 1990-2000, HALF of all whites in Detroit left...(222,000 to 116,000)
From 1950-2000, over NINETY-FIVE percent of all whites leave Detroit. 1,545,847 down to 75,758
Clearly, all of Detroit's problems are the fault of whites and Republicans.
Growing up in Maryland, I've visited Baltimore many times. I have a friend who used to live in a nice neighborhood not too far from the Harbor. That said, I wouldn't want to live there. Never know if I'll get killed by a stray bullet intended for somebody else.
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