Detroit is a major port city and the second busiest freight crossing on the continent. There is no "good" reason things shouldn't be booming.
Canada is paying to build a second bridge and that will ease the trade bottleneck.
Posted on 07/30/2013 2:47:33 PM PDT by lowbridge
It may not look particularly attractive, but as just $1 this family home is a complete bargain.
However, despite being on the market for the drop-down price since February last year, the Detroit property is astonishingly still for sale.
It is one of a number of run-down properties lying in the suburbs of Michigan's largest city, which earlier this month filed for bankruptcy, crippled by enormous debts.
Built in 1915, the property on Saint-Clair Street has been listed for sale since May 2011.
After initially being placed on the market for $900, its price was dramatically reduced to just $1 in February last year.
A description of the property on the Zillow website describes it as a 'Multi Family home featuring 2 units, hardwood floors, basement, and much more!'
(Excerpt) Read more at dailymail.co.uk ...
Then again, you'd be shot down like a dog on your way to the bank ... assuming the bank hadn't been robbed.
Detroit homes for bargains—the old bait and switch routine.
Cheap on the front end but way expensive on the back end. The city is just salivating to levy their taxes on the new homeowners who got ‘the bargain deals’. Plenty left to pay the tax extorters with right?... NOT......
The Day After Tomorrow
All the Brick and Hardwoods.
My guess is the studding, joyces, and maybe even covering on the studs is old wood...
Man recycling some of these could be the ticket, but you need machines and crews that know how to salvage this stuff and you need a place to ship it too out of the area...
The spirit of Coleman Young still going, going too for Mo-Town--as in Mogadishu west.
with hfh the people who will live in the house have to do some of the work rebuilding it. that’s why they aren’t there.
it’s not habitat for handouts.
Bringing the house up to code by removing asbestos: $10,000, lead paint removal: $5,000, replacing stripped out wiring and plumbing: $25,000: replacing heating and cooling system: $20,000, structural repairs: $20,000.
Now the $150,000-$200,000 renovation can start. Value of the house when finished: $1.
Most likely, but you never know.
The way I see it...
* These houses have "defaulted" on their Mortgage but more Importantly on their taxes.
* Therefore, are they not the Cities then?
* Then are not all 78,000 homes an "Asset" of the Cities?
* In bankruptcy, perhaps they need to be bundled in bunches absent of all the taxes post the Chapter 9 and sell them to those that will fix and or re-cycle them.
One dollar for this house is no bargain at all. The cost to tear it and the rest of Detroit down in order to make rebuilding it on its original lot practical would be prohibitive.
Man recycling some of these could be the ticket, but you need machines and crews that know how to salvage this stuff and you need a place to ship it too out of the area...
***
My guess is you’d also need armed security guards to protect your crew.
Short sighted 'leaders' of Detroit would rather have 100% of nothing than 10% of something... And still they wonder why their city has failed...
Detroit?
It was the drugs....hedonism ....simple when a majority of a population feels better doing a substance than they do from the rewards of family,accomplishment,friendship ect... then they pursue those behaviors....Detroit is a big crack house.
Half the city sports only 2
emotional states...high and tweekn.....
Anyone needs a lesson in deprivation need only tour detroit on a week end.Make it hell night if your feelin rowdy ....bring friends with you If you plan to return home.
Unless major changes occur this is only the start...Philly..Chicago...Atlanta ,Miami all lookin down.
When the hedonism takes over?
Look to the mex. border towns..........Ive worked with mexicans for 9 yrs.Many will not go back even to visit relatives.None will stop in the border towns .Several have killed at some point to live.
The America I grew up in is gone.Its not comin back..... Unions,samesex marriage,abortion,immigration,...............they have marginal effect..
Tolerance of excessive hedonism at the expense of others.........
Thats the city killer,the government killer,the society killer,........thats the Freedom killer. And it is now Rampant on both economic and social ends of our country.
Remember this when your golf buddy laughs about the meth heads working in his factory.As he’s doing a line.
At least 50% of the U.S. consider drugs the high point of their life.
Economy down...it happened here before.... people helped each other.......they Fed each other....what happens if half of the people are already on the make and take and tweekn this time?
Oh well...
Its not ME its not HERE its not NOW....
But its comin...
I welcome debate...show me wrong..please..because my projections are dismal.
The Indiana National Guard has to be sent in every once in a while.
This was once somebody’s dream home. You wonder what were the circumstances that pushed the family who once owned this house to abandon it? People put twenty or thirty years of hard work to pay off a mortgage. How many people lost everything because their city was becoming unlivable? How many people lost the childhood neighborhood that they grew up in, the home that they bought as a young married couple, the home where their children played with neighborhood friends. No tears for these people.
Typical lib politicians, penny wise and pound foolish. If they just forgot about the taxes from 40 years ago they would start getting buyers who would tear down these hulks and replace them with new houses that would be paying taxes again.
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