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Daily Flash - Home For Sale in Detroit, $10,000

I can't tell if this will actually sell for that little, but check out prices for houses in Detroit here.

8 comment s:

Anonymous said...

OMG

Reppas said...

This is truly sad but, as the median house price in Detroit is under $10,000, far from unusual. Some of these houses, as seen on Google Street View, seem to be in good condition and in nice neighborhoods. Others are burnt-out wrecks that can be bought for a few hundred dollars. Around 100,000 houses have been abandoned in Detroit and the city is making efforts to demolish those that are actually dangerous, with the result that many areas are reverting to original prairie.

Kay L. Davies said...

The roof alone probably cost that much to put on. I knew Detroit prices were bottoming out (and it has really affected Windsor, Ontario, across the river) but wow, this is really bad (or good, if you're looking to buy).
K

c w swanson said...

Offer 5k.....

I heard somewhere that there was a residential property there that was offered at 1.00, but it hadn't sold in 10 months. Obviously some other issues likely, such as liability for back taxes, but still a lesson in how bad it can get in the wrong property environment.

Anonymous said...

Sad and shocking
One possibility could be to create SCI's (civil property companies) or housing cooperatives ? In many developing or western countries farmers manage their lands through cooperatives so why not in urban neighbourhoods

Anonymous said...

another observation..

google

" Global Detroit: Attracting immigrants key to Detroit growth "

i tried posting the url but it wouldn't publish..

Mike W

******

Anonymous said...

" Attracting immigrants key to Detroit growth"
you sir/madam have a distinct flair for stating the obvious.

A trait long since fallen into disrepute

Look out 'cuz the PC crowd will not tolerate such.

Anonymous said...

I read this post when it was first posted, and did comment (OMG), but have to say, the bizarre tragedy of it all sticks in my mind...I feel genuinely sad, considering the heartache, loss of dignity, and likely eventual outcomes.

I have the impression that these house are all foreclosure situations? anyone know?
so is this "result" the outcome of
banks sucking folks into more than they can afford?
banks foreclosing when they really had no right to? (saw some on t.v.)
folks job loss?

it is very hard to imagine..

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