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Cheap ER living quarters available
Old 03-02-2009, 03:11 PM   #1
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Cheap ER living quarters available

Median home price is $7500.00.

Detroit's outlook falls along with home prices -- chicagotribune.com
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Old 03-02-2009, 03:21 PM   #2
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Another benfit is that you can probably increase your SWR due to lessened life expectancy.

Ha
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Old 03-02-2009, 03:26 PM   #3
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I'm from North of the border and I've never visited Detroit. I met with a colleague at a conference a year ago that was from there. He doesn't live there any more stating 'I don't feel safe in Detroit anymore'.

Are there good places to live in Detroit? Are the houses there selling extremely cheaply as well?
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Old 03-02-2009, 03:35 PM   #4
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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.

How could it be that low?
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Old 03-02-2009, 04:11 PM   #5
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Here's one with NEWER CARPET AND PAINT for $200 it even has a 2 car garage


4869 Spokane St, Detroit, MI, 48204 - MLS ID#28027758 - Single Family Home real estate - REALTOR.com«
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Old 03-02-2009, 04:11 PM   #6
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I am amazed that this has taken so long. Eventually many estadounidenses who can afford it will live like many South Americans who can afford it- behind high walls, gates, and razor wire, or in city high rises with quality security.

Sorry for the Spanish term, but I get tired of people pointing out that we are not the only Americans, or the only North Americans. Well duh! But I know no reasonable English word-United Statesians?)

Many urban area home values may never recover from this housing bust, at least in real terms.)

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Old 03-02-2009, 05:04 PM   #7
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Don't get too excited, ha.

I thought about this just this morning. Nuts to Latin Americans who say they are Americans, too. When someone asks them, where are they from, do they identify themselves as Americans? Not bloody likely. People from the United States of Mexico identify themselves as Mexicans. Why the h*** is it not legitimate for me to identify myself as an American (as in United States of America).

In any case, I understand that houses have been trading in Buffalo, NY, for what is owed in taxes for years. I would not want to live in such a house. I seen 'em.
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Old 03-02-2009, 05:06 PM   #8
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Here's one with NEWER CARPET AND PAINT for $200 it even has a 2 car garage


4869 Spokane St, Detroit, MI, 48204 - MLS ID#28027758 - Single Family Home real estate - REALTOR.com«
hmmm... $200 for the house with $1000 bonus for the sellling agent. Looks like someone could make a quick $800, then quitclaim it over to the city....
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Old 03-02-2009, 05:48 PM   #9
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Yeah, but that $1/month mortgage is just a low teaser rate.
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Old 03-02-2009, 06:33 PM   #10
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The rich people in live in Gross Pointe and Ann Arbor.
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Old 03-02-2009, 06:38 PM   #11
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Yeah, but that $1/month mortgage is just a low teaser rate.
LMAO! My office buddies now know I wasn't doing work right then.

So in theory, one could buy a whole block for $75k, put in $25k of security "features" (Razor Wire, Security Cameras etc.) and live like "The Duke" in Escape from New York!
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Old 03-02-2009, 08:53 PM   #12
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This could really limit qualified buyers:
"PROOF OF FUNDS OR PRE-APPROVAL MUST ACCOMPANY ALL OFFERS."
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