Posted on 08/15/2005 9:59:30 AM PDT by Pikamax
Oh, OK. Like I said, anywhere in Cal is paradise compared to the nightmare known as Detroit. I'd pay 3x the taxes to live in Cal than that place.
You are correct, buy low, sell high. The first of the two steps is to buy low.
However, in a hard left liberal run victimhood stronghold like Detroit as soon as someone shows up with money buying properties, the city will hit them with costs to clean up the rats, lead, asbestos, maintaining the property and anything else liberals object to, or want someone else to pay for.
The new owners will also likely be hit with numerous lawsuits from neighbors for the above items and anything else a lawyer can dream up.
I’m sure there is money to be made, but it’s not without many risks.
Detroit real estate would be a GREAT purchase if one was a seventeen year old kid with a valuable trust fund and had sufficient time to sit upon the investment.
Anyone in their thirties or older will be dead long before Detroit can regain its stature as a top-tier American city, IMHO.
~ Blue Jays ~
They need to raise the taxes on the welfare recipients....as no one has a job in Detroit...other than a government job...
In Los Angeles, Skid Row is now becoming a Chi Chi area for yuppies to live. Old $2 a night flophouses and industrial warehouses have been converted to $2000 + a month 1 bedroom lofts for Yuppies to live in.
I don't think anyone would have predicted this development 20 years ago.
Can you imagine the virtual TRACTS of land that an aggressive buyer could purchase for a song in the worst Detroit neighborhoods? A couple hundred thousand dollars could probably net several square blocks, if I had to take a guess.
I'm not a gambler by nature, but it would be pretty cool to pony-up the money and subsequently hit a homerun. This is what happened to people who invested in Hoboken and Jersey City, NJ or Brooklyn, NY twenty years ago...they're millionaires now. Sometimes makes me wish that I wasn't so averse to financial risk.
~ Blue Jays ~
Perhaps the biggest challenge to luring the middle class from the area's swank suburbs is overcoming racial tensions the crime problem. . . .
which shows you the depth of racism and fear the crime problem. . . .
2000 Median income $31,543 Provo, $41,189 Detroit.
Property Tax Rate for Detroit .031, Provo .0063.
Burn them down.
12,000 abandoned homes equates to 48,000 Democratic votes.
Good point, I'll bet every one of those homes is occupied on election day.
So does St. Louis.
Lesee now Buffalo, East St Louis, Gary, Indianapolis, Louisville...
"But first the city has to get rid of the crumbling buildings that haunt the streets, luring criminals, arsonists and wild animals and creating a general sense of hopelessness."
"luring wild animals - - "
Detroit should talk to GangGreen and Lil Debbie about getting Federal money to establish an "endangered panther" program. After a panther 'dissed' a druggie, that panther would most certainly be "endangered", Endangered Speices Act or no Endangered Species Act. ;o)
Then GangGreen could ask for more 'enforcement personnel' to protect the cats.
And the battle would be on!
Cat lovers and GangGreen against the druggies - can I claim TV rights?
The minute you come in there writing checks, you'll pop up on the government looters' radar screen and they'll grind you down until they have vaccumed every last dime possible out of your wallet and leave your big plans for big money in Detroit real estate in tatters.
Another house was abandoned today as my caucasian daughter and husband were forced out of their house today. Three years ago they bought a wonderful old house to renovate. When it was just about done, a suspicious fire destroyed everything. They were determined to start again, but the bank forclosed on them and today were locked out. Detroit will never revive because of the policies of the city goverment. They turned the lights out when they left.
Friends don't let friends live in Detriot or is that Cleveland?
I bet the local pols are still talking about having a homeless problem.
They just need reperations...thats all
One of my fonder memories is seeing Detroit disappear in my rearview mirror for the very last time.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.