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Detroit Homes Avg. $6000

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Detroit Homes Avg. $6000

Postby Taco » January 28th, 2012, 4:37 am

Detroit homes prices(avg. $6000) are just another reminder the US economy is not recovering. With 50% unemployment, a police force that only works from 8am-4pm and bus drivers that are terrified to go to work due to skyrocketing crime, houses in Detroit are selling for nothing. By comparison, a new one bedroom house in Cebu, Philippines is about $12,000.

Detroit Is In Utter Shambleshttp://www.businessinsider.com/detroit-is-in-utter-shambles-and-the-state-should-take-it-over-immediately-2011-12

Here's what you get for $6000
http://hotpads.com/real-estate/Detroit- ... PerQuad=24
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Postby Taco » January 28th, 2012, 4:39 am

Sorry, here's the link.

Detroit Is In Utter Shambles

http://www.businessinsider.com/detroit- ... ly-2011-12
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Postby Banano » January 28th, 2012, 6:09 am

Are you sure that new house in Cebu is only $12 000?
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homes for $50 in beautiful Detroit

Postby odbo » January 29th, 2012, 11:26 am

It's like peaking into the future of America. :shock:

[youtube]http://www.youtube.com/watch?v=02x8EHXPfB0[/youtube]
The elites call this^ "post-industrial zero-growth society."

[youtube]http://www.youtube.com/watch?v=Ny4a-oxOndo[/youtube]
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Postby Billy » January 29th, 2012, 12:47 pm

50 Dollars. This is cheap. Maybe I should go to Detroit. It´s cheaper than 3rd world countries.
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Postby navigator » January 29th, 2012, 2:38 pm

Billy wrote:50 Dollars. This is cheap. Maybe I should go to Detroit. It´s cheaper than 3rd world countries.


Don't forget about annual property taxes, back-taxes, other outstanding liens, assorted late fees, accrued interest, unpaid utility bills, repairs, closing costs, etc. Those are the hidden costs. When all is said and done, you can expect to pay tens of thousands of dollars on top of the listed price. All to live in a shack, located in a dangerous city with limited employment opportunities. And good luck trying to resell the home. There's a good reason these homes aren't flying off the market like hotcakes.
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Re: homes for $50 in beautiful Detroit

Postby OutWest » January 29th, 2012, 5:20 pm

odbo wrote:It's like peaking into the future of America. :shock:

[youtube]http://www.youtube.com/watch?v=02x8EHXPfB0[/youtube]
The elites call this^ "post-industrial zero-growth society."

[youtube]http://www.youtube.com/watch?v=Ny4a-oxOndo[/youtube]


I was born near Detroit. Its a lot more than the recession that has destroyed Detroit. Detroit was in decline by the 60's, the race riots pretty well sealed
its fate. With white flight from Detroit, the tax base began to vanish, and the usual "black leaders" took over, with predictable results. No city can survive with the kind or rampant murderous criminality that took over Detroit. Right across the river is Windsor, Ontario, which suffered the same economic forces, but since it is a city that is not run by hoodlums, it is still a decent place to live. Ah yes, diversity at work....

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Postby gsjackson » January 29th, 2012, 10:24 pm

The worst mistake of my life by far was investing $70,000 in Detroit, almost all of which I've lost. It is an utterly lawless environment. Everyone I dealt with -- everyone -- was an unscrupulous predator who stole as much from me as he could. And I'm talking here about white people, some with JD's and such after their names. Do not go anywhere near the city. It is a human cesspool.
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Postby Billy » January 29th, 2012, 11:10 pm

Damn, sounds like mad max. Frightening.
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Postby gsjackson » January 30th, 2012, 12:32 am

Mad Max, but with a veneer of respectability to disguise the fact that everyone you deal with is a ruthless predator.

The recession has brought out the latent predator in Americans who are strapped for money, which is most of them right now. While there are some very attractive real estate investment opportunities in this country right now, don't put up any money that involves having to rely on someone else's honesty and competence. You will regret it.
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Postby wardkingg » February 2nd, 2012, 6:47 am

Don't forget about yearly property taxation, back-taxes, other excellent liens, an assortment of additional fees, acquired interest, overdue bills, fixes, settlement expenditures, etc. Those are the invisible expenditures. When all is said and done, you can expect to pay thousands on top of the listed price. All to live in a shack, located in a risky city with limited job opportunities.
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Postby momopi » February 6th, 2012, 3:13 am

Lake Las Vegas condos:

http://www.redfin.com/NV/Henderson/29-M ... e/29052613

2006: $409,900
2012: $43,500


http://www.redfin.com/NV/Henderson/29-M ... e/28965550

2006: $299,900
2010: $32,000


This is not an endorsement to buy.
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Postby Billy » February 6th, 2012, 11:00 am

Momopi, that´s incredible. What is the problem with these condos?
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Postby momopi » February 6th, 2012, 9:35 pm

There are far better places to invest $40k cash, than one of these 446 sq ft condos in Henderson.
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Postby Billy » February 6th, 2012, 10:06 pm

In munich it would be maybe 100k. Though you can´t compare. We don´t have that weather, pool and lifestyle. With that extra it would be worth north of 200k.
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