How much would this house sell for in Chicago? (Detroit: apartment, schools)

[aragx6]

Originally Posted by hsw

lots of elite suburbs of cities as divergent as Detroit or Cleveland or StLouis or Dallas or Houston are now just as costly (or more costly in case of Dallas' HighlandPark) as Winnetka/LakeForest, so it really becomes a QOL comparison, as COL is fairly similar

Baloney. There are no suburbs, no matter how nice, in St. Louis that have a COL comparable to Winnetka or Lake Forest or a whole host Chicago's most elite suburbs.

[Drover]

Originally Posted by hsw

Need to factor in that middle-income people (and most jobs) left City of Detroit for Oakland County suburbs many decades ago, when auto industry was lucrative

Ironically, even today, houses in Detroit's Bloomfield Hills (akin to Chicago's Winnetka/LakeForest) cost roughly same as Chicago NorthShore comparables

Some 20yrs ago Bloomfield Hills public schools were comparable to NewTrier, but they've since declined dramatically in quality, forcing many parents to pay for private schools, adding to the not-cheap COL in Detroit region

And state of MI has a ~5% state income tax rate vs IL's 3%, further incenting taxpayers to flee MI

Given that Detroit has built crappy cars for decades (haven't college-educated, middle-income people been buying US-built Camrys/Accords for some 20yrs now?), Detroit region has done everything possible for adverse selection....crappy industries, high COL-taxes, low QOL (public schools, restaurants, etc)....no surprise why most smart U-MI alums migrate to Chicago (or CA/NYC), not Detroit, to pursue their careers

Rise and fall of regions reflect complex dynamics over decades....lots of elite suburbs of cities as divergent as Detroit or Cleveland or StLouis or Dallas or Houston are now just as costly (or more costly in case of Dallas' HighlandPark) as Winnetka/LakeForest, so it really becomes a QOL comparison, as COL is fairly similar

If only they discovered the miracle of hedge funds, all would be well.

[oldhousegirl]

Originally Posted by usroute10

Real Estate One – Detroit, Ann Arbor, Northern Michigan, Michigan Real Estate - Property Detail
This 4,800 sq. mansion has been stripped of its radiators. Yikes! Check out the pix.

WTHeck? Why are the taxes 20k?

[aragx6]

Because more people are using the services than paying taxes. You see this frequently in struggling areas.

[Avengerfire]

Originally Posted by aragx6

Because more people are using the services than paying taxes. You see this frequently in struggling areas.

What services? I am no expert on Detroit,but from what I have read and heard from people from the area there really are no reliable city services in Detroit.

[jdiddy]

Originally Posted by aragx6

Baloney. There are no suburbs, no matter how nice, in St. Louis that have a COL comparable to Winnetka or Lake Forest or a whole host Chicago's most elite suburbs.

It's about repetition, not accuracy.

[aragx6]

Originally Posted by jdiddy

It's about repetition, not accuracy.

Obviously I should know that by now ...

[aragx6]

Originally Posted by Avengerfire

What services? I am no expert on Detroit,but from what I have read and heard from people from the area there really are no reliable city services in Detroit.

Well they're not reliable, but they do exist and they are hemorrhaging money.

[exit18b]

I am not poking fun at Detroit. W lived in the Detroit area for 7 years and loved the area. We have lot's of friends in the Detroit area. These beatiful homes became too expensive to keep it. As you can see, that $100k house will carry $20k in property taxes. This area was more middle-class folks trying hard to hang-on to money pits. That 4,500 sq ft house is a bear to heat. As some of the long time residents moved out, there is not enough to attract people to these homes. The city of Detroit will not lower the taxes and young families even ones that would love to "fix-up" a house like this are turned away from $2000k/mth taxes. This same story has been repeated a thousand times throughout Detroit! It is very sad! Some of the bones on the houses in Detroit are strong and beautiful!

[usroute10]

In DETROIT,

Garbage pickup is very reliable. Police and fire are underfunded and undermanned, so those services are lacking, in some instances they are lacking a whole lot. Do you get great city services in your Chicago neighborhood? Can you name any in particular.