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Old 06-29-2010, 06:54 PM
 
73,085 posts, read 62,717,333 times
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I found something very crazy. There is one house that was selling for as low as $50.

YouTube - Dying Detroit
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Old 06-29-2010, 06:57 PM
 
Location: Huntington Woods, MI
1,742 posts, read 4,006,266 times
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What people don't realize is that $50 house is actuall 10k because all backed taxes and late fees have to be paid up to date. So yes they auction for $50 but the true cost is not $50.
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Old 06-29-2010, 07:12 PM
 
73,085 posts, read 62,717,333 times
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Originally Posted by scolls View Post
What people don't realize is that $50 house is actuall 10k because all backed taxes and late fees have to be paid up to date. So yes they auction for $50 but the true cost is not $50.
I didn't know that.
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Old 06-30-2010, 01:18 AM
 
Location: The Lakes
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Well hey, if those speculators buy those homes and pay those back taxes... At least the city gets some profit!
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Old 06-30-2010, 07:52 AM
 
73,085 posts, read 62,717,333 times
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Originally Posted by UKUKUK View Post
Well hey, if those speculators buy those homes and pay those back taxes... At least the city gets some profit!
And the people get nothing.
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Old 06-30-2010, 08:10 AM
 
Location: Detroit's Marina District
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Originally Posted by pirate_lafitte View Post
And the people get nothing.
They get a house.
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Old 06-30-2010, 08:22 AM
 
73,085 posts, read 62,717,333 times
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Originally Posted by Remisc View Post
They get a house.
UKUKUK was talking about the SPECULATORS getting a house and the city getting some taxes. Ordinary everyday residents are the ones who don't get anything out of it.
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Old 06-30-2010, 09:06 AM
 
Location: Loving life in Gaylord!
4,120 posts, read 8,908,126 times
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Uhhgg! I wouldnt take most of those houses if they were free.
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Old 06-30-2010, 10:06 AM
 
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Eventually a lot more of it is going to fall. I assume that's why Detroit only has a few pockets of Victorian homes left. It just becomes too expensive to maintain on the local wages. The 1920s homes will go the same way.
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Old 06-30-2010, 10:27 AM
 
73,085 posts, read 62,717,333 times
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Originally Posted by errhuh View Post
Eventually a lot more of it is going to fall. I assume that's why Detroit only has a few pockets of Victorian homes left. It just becomes too expensive to maintain on the local wages. The 1920s homes will go the same way.
The way Detroit could keep some of these homes is if people did opposite commutes from the suburbs to Detroit.
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