Detroit homes sell for $1 amid homes and car industry crisis

guardian.co.uk/business/2010 … losures-80

You can but well located multi unit apartment complexes in eastern seaboard cities (4 million + population) for $7,000 each. They rent for $550 per month.

Link??

A quick look found this one for example trulia.com/foreclosure/30036 … t-MI-48238
amongst many.

Thanks, but I was looking for a link to the eastern seaboard ones

How much property tax etc ?

Im guessing by eastern seaboard, he meant Florida
Property tax is based on the value of the property and while its pretty high in florida, if it was out of whack with a cost of $7000, you would probably have a case to get it reduced
If it was just one selling for so little, then it may be different , but with so many properties going for so little , it would be hard for the assessor to value it very highly

Out of curiosity I did a google earth flyby of parts od Detroit, Whole districts look like they’ve been carpet bombed leaving nothing except the road layout! Also remember that a lot of google earth images are a couple of years old.

Is that the fate of some of the ghost estates here I wonder.

I don’t think so.
As a country we have a far more comprehensive social and regional policy.

More on this

viewtopic.php?f=11&t=27288&hilit=Detroit&start=15

Posted this article previously on a Morgan Kelly thread: viewtopic.php?p=271618#p271618

telegraph.co.uk/finance/fina … rvive.html

Following on from that, here is a website chronicling the demolition. blog.mlive.com/flintjournal/news … _with.html (warning! it takes a long time to load as there are several embedded google maps)

Requiem For Detroit on BBC2 now.

bbc.co.uk/programmes/b00rkm3y

Reminds me of a sketch in “Not the nine o’clock news”, old farmer standing next to a hedge, saying to a TV reporter “I remember when this was all fields!” The reporter retorts “but it’s fields now!” the farmer replies ““it was fields when I was a child, then they build factories, then Thatcher closed them all down! now it’s fields again!””

I can’t believe they didn’t play Talking Heads - (Nothing But) Flowers:

https://www.youtube.com/watch?v=Qo1aKvqjA0o

Might have to do a video of my own!

Report: Detroit bankruptcy looms without drastic change → detnews.com/article/20100406/METRO01/4060342

https://www.youtube.com/watch?v=ReqG6qbx_c0

youtube.com/watch?v=wXC6EjSMyh8

youtube.com/watch?v=5gQbP0nH06A

youtube.com/watch?v=63AM-LkKcG4

youtube.com/watch?v=S2C9LnKDBDI

youtube.com/watch?v=zreYUBIUmrM

youtube.com/watch?v=5CBoqs4Ze08

youtube.com/watch?v=8sfkqb7boSA

globalresearch.ca/index.php?context=va&aid=19856

irishtimes.com/newspaper/wee … 50373.html