Why don't rich people just buy entire subdivisions and turn them into huge estates? (Detroit: condo, house)

[MrBR]

It would be about as cheap as buying in the country with the benefit of being in the city and build huge gates/walls to keep the scruffy types out.

[Huckleberry3911948]

the "scruffy types" would never accept that and of course demand that there be some mega "income inequality" adjustments.
the one thing "scuffy types" cant stand is rich people leaving, aka white flight and the one thing "scruffy people" cant stand is gentrification rich people moving in.
but cheer up we have a solution, the red chinese are coming to detroit, and they are not bringing any white guilt with them. they will soon introduce you to what happens to you when your civil rights are violated while you are beating up a store clerk and picking up a few cases of booze free of charge. the red chinese have a procedure for these incidents. its not jail.

signed a former scruffy person

[MrBR]

Originally Posted by Huckleberry3911948

the "scruffy types" would never accept that and of course demand that there be some mega "income inequality" adjustments.
the one thing "scuffy types" cant stand is rich people leaving, aka white flight and the one thing "scruffy people" cant stand is gentrification rich people moving in.
but cheer up we have a solution, the red chinese are coming to detroit, and they are not bringing any white guilt with them. they will soon introduce you to what happens to you when your civil rights are violated while you are beating up a store clerk and picking up a few cases of booze free of charge. the red chinese have a procedure for these incidents. its not jail.

signed a former scruffy person

Eh. What?

[animatedmartian]

Gated communities are not very popular in Michigan.

[jackmichigan]

Originally Posted by animatedmartian

Gated communities are not very popular in Michigan.

Oh yeah? There are plenty of gated communities around...and they do seem to be popular. The Governor even lives in one.

[animatedmartian]

Originally Posted by jackmichigan

Oh yeah? There are plenty of gated communities around...and they do seem to be popular. The Governor even lives in one.

Not in and around Detroit. And I don't mean single streets that are gated or small condo complexes, I mean whole subdivisions with SFH. The few that are in Metro Detroit are mostly in West Bloomfield but hardly anywhere else.

[Retroit]

I think it is a good idea and have considered it myself. However there are a few downsides:

• Property taxes are too high in the city.
• If you build out in the country or exurbs, you don't have to waste as much money on security.
• Fences/walls don't really keep out the scruffies. Just look at the White House incident. And scrappers in Detroit have been known to steal fences (I know it has happened at Mt. Olivet Cemetery).
• Better city services outside the city.
• Most rich people want to live near other rich people. It would take a critical mass of rich people willing to do this.
• Even rich people who live on big estates want to be able to go for a walk, jog, or bike ride through the neighborhood. They wouldn't feel safe doing that in most areas of Detroit.
• Lack of real good schools, even private, that compare with the options elsewhere.
• Difficulties in acquiring contiguous property. You may have one or two hold-outs that don't want to sell their property to you.
• Contrarily, the city may only be offering large pieces of property. The city has been trying to sell some large parcels in Brush Park, but it looks to me like these properties can't be subdivided.
• Zonal constraints. The property may be zoned commercial or multi-family. (Although I believe this can usually be changed. But it is an issue that would not be a factor elsewhere.)

Just a few off the top of my head.

[PacoMartin]

Originally Posted by MrBR

It would be about as cheap as buying in the country with the benefit of being in the city and build huge gates/walls to keep the scruffy types out.

My neighbor was faced with a subdivision being built behind his mansion. Although the house was 70 yards from the property line, he must have been upset at the idea of people watching him play tennis or swim in his pool. He bought four lots at $100K apiece and landscaped them and fenced them in. It gives him a little private wooded estate in the back of his property.

The home is 6 beds, 5 baths, 8,958 sqft, and was built in 1963. He bought it on 03/01/1986 for $390,000. He paid $400,000 for those four subdivision lots in about 2000 and 2001.

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But in general money wants to be near money. We have beautiful mansion built from the 19th century up to the 1920's. In the 1950's they sold off land with little ranches built next door. Most rich people don't want these old mansions surrounded by blue collar workers. They want the good school districts, the expensive restaurants, and they want their neighbors to have similar homes.

[jackmichigan]

Originally Posted by animatedmartian

Not in and around Detroit. And I don't mean single streets that are gated or small condo complexes, I mean whole subdivisions with SFH. The few that are in Metro Detroit are mostly in West Bloomfield but hardly anywhere else.

Well, they are not as prevalent as in some areas out west, but there are enough of them around. Offhand, there are at least three large ones in Dearborn--all in the Fairlane development. There are also a few in the Ann Arbor area where the Governor lives. I've always felt that some of the better areas in Detroit (e.g. Indian Village, etc.) should be turned into gated communities just to help keep down the crime.

[todd00]

Originally Posted by MrBR

the benefit of being in the city

That gave me a laugh. Maybe some eccentric (it's called crazy if you're poor) would consider it, but likely no one else.