[wacahootaman]

Maybe even "Need Affordable Home" can buy one


http://today.reuters.com/news/articlenews.aspx?type=topNews&storyID=2007-03-19T154818Z_01_N19279978_RTRUKOC_0_US-USA-SUBPRIME-DETROIT.xml&pageNumber=1&imageid=&cap=&sz=13&WTMod Loc=NewsArt-C1-ArticlePage1 (broken link)

[tallrick]

.....But would he want to? Detroit is in serious decline, and the weather wouldn't be to his liking. Although I do remember when you get a home in Miami for 15,000.

[RedWingsFan]

If you saw the neighborhoods you would see why the houses are so cheap there. I'm a Michigan native, born in Detroit and raised in the suburbs. Detroit has to be the biggest ghetto there is. The average neighborhood has every third house burned down or half burned down. Pretty soon they will give the houses away and pay the people to live there.

Detroit is a mess! It's the second most dangerous city in the country.... houses should be tore down and people should rebuild the city.

[tallrick]

And some parts of Miami are just as bad. I would be very happy if property values were falling like than in Florida. Unfortunately the solar radiation fries the brains of people here, so they are dumb enough to pay anything. Drive through Liberty city or Grand Avenue in Coconut Grove at night. Average income in Miami is less than Detroit as well......guess there's a lot of "under the table" deals here.

[House4Sale]

How sad. To think the area, as many others, was once a thriving, blue collar middle-class proud city. Unfort., they sold out on us by moving their plants out of the country. Shame on them for doing this to us. Buy American made in America to keep us Americans in a job. That's the problem. We did not support our USA made businessess. Buy Made In the USA when you can.

[Need_affordable_home]

This is a poor situation that is going on. I hear Michigan keeps raising their taxes, driving more and more people out. Businesses are leaving in droves too. Crime is a major problem. Maybe when theres hardly anyone left in Detroit, ill consider buying a mansion there for $50k. Cant be much crime if im the only one in the neighboorhood.

[tallrick]

Originally Posted by Need_affordable_home

This is a poor situation that is going on. I hear Michigan keeps raising their taxes, driving more and more people out. Businesses are leaving in droves too. Crime is a major problem. Maybe when theres hardly anyone left in Detroit, ill consider buying a mansion there for $50k. Cant be much crime if im the only one in the neighboorhood.

I am sure that the good salaries and in-migration of the past allowed taxes to rise. Then a welfare state developed, sucking the ever increasing tax revenue. Sad to say, this collapse may be a good thing, the leeches will have to move somewhere else, leaving some areas like a ghost town. Once the speculators are gone it will either rot away or redevelop under less government interference. Hopefully one day Miami Florida will meet the same downward spiral, after a hurricane exposes the rot within.

[tallrick]

Originally Posted by House4Sale

How sad. To think the area, as many others, was once a thriving, blue collar middle-class proud city. Unfort., they sold out on us by moving their plants out of the country. Shame on them for doing this to us. Buy American made in America to keep us Americans in a job. That's the problem. We did not support our USA made businessess. Buy Made In the USA when you can.

The unions did a good job at reducing profitability, and lawyers have caused health care costs to spiral upwards. CEO's at the big three are paid insanely high compared with the average worker. The autombile is heavily regulated by the US government and that hits the bottom line. The government is businesses #1 enemy so they just leave and cash in on cheap foreign labor. I try to only buy made in USA but unfortunately it means that most of my stuff is over 30 years old. I have a feeling that Detroit will be the blueprint for LA, Miami, NYC, etc. You know it's just a matter of time...

[firemed]

This must be wrong ! I was told real estate can only go up.

[Muggy]

Originally Posted by Need_affordable_home

Cant be much crime if im the only one in the neighboorhood.

I don't know, a dude with as many stuffed animals as you would keep me constantly looking over my shoulder.

ZING!