5 BR Detroit Manse, $8995

[YehoramShenhar]

No, I do not have any cheap foreclosure deals to offer - just came across this listing of a property in Detroit...
Here is the link: http://www.ritholtz.com/blog/2008/12/for-s...oit-manse-8995/

Yehoram.

 

[housingrental]

Great post, thank you Yehoram

 

[wealthyboomer]

Government should buy them and turn them into prisons.

 

[timk519]

Did you check the taxes? The place sells for $9K, and the annual taxes are > $3K! LOL.

 

[housingrental]

~ increase of double the percentage of population in prison system in last 20 year years in states
Over 2 million people in USA
Very very sad
Check states of of white vs minority even sadder
And sadly probably economically viable to have entire blocks in Detroit turned into holding area`s
Lower Buffalo maximum security prison 2030? ("From 2nd to 37th street")
Could it happen in my lifetime?

QUOTE (wealthyboomer @ Dec 29 2008, 10:36 PM) Government should buy them and turn them into prisons.

 

[CarlaJohnson]

I grew up in Sarnia and listened to Detroit motown radio in its heyday. Sadly, Detroit is a mere shadow of what it once was. An investor friend bought a Detroit property, but had a tough time finding a team to support his investment. It was ready to rent, but the realtor who said they would keep an eye on the place didn`t. It was gutted. Everything was stolen from the property - flooring, drywall, siding, sinks, etc...all gone.