WTH? The average home price in Detroit is now $18,550. ??

Detroit is on the fast track in becoming this century's ghost town. I don't believe it will make it out alive, unless there is a flood of new businesses that hit the Detroit area.

Most of the houses that are that inexpensive usually have a tax lien or some other issue.
 
This kinda reminds me of the real estate plans that TPTB have been doing over and over across the country. Systematically destroy an area that was once nice, lower the property values through unemployment which leads to high crime and squalor, then when everyone leaves buy up the properties for pennies on the dollar, then redevelop the area and sell at a huge profit. It's already been done in DC and LA, among other places. Detroit will see a resurgence at some point and a few people pulling the strings will make a boatload of money. If you aren't shy about playing the real estate "buy and hold" game, Detroit is a great long term investment IMHO.
 
RSLudlum said:
Time to scoop em up and start "Free State Project" part deux?? :p
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That's a VERY good idea.

With all of our foresight and ingenuity, if there is ever an economic crash (not that there's much of an "if" to that scenario), we'll survive the hard times as land magnates!
 
This is a brilliant idea. Let's rebuild Detroit!!! What industry do you think we can come up with to save the town and make it a boomtown?
 
Houses for $1.00...............................that is still too much to live in detroit.:)
 
nate895 said:
This is a brilliant idea. Let's rebuild Detroit!!! What industry do you think we can come up with to save the town and make it a boomtown?
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I was actually thinking banking and internet. Things people can do from home, as long as you can afford to secure your fortress with armed guards.
 
Josh_LA said:
wouldn't burning them make good fireworks? haven't you seen 8 mile?
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They are already burned, most of them say "ENTER AT OWN RISK," not to mention I'd probably have to bring a squad of men to hold off the people who lived around the former crack houses.
 
nate895 said:
They are already burned, most of them say "ENTER AT OWN RISK," not to mention I'd probably have to bring a squad of men to hold off the people who lived around the former crack houses.
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well then, burn it more, leave a nice empty field. sad aint it?
 
I advise you all to think 'Pittsburgh' or even Youngstown, OH.

Plus wouldn't it make more sense to make the Free State in a place more stable and self sufficient (better weather) for planting. If the SHTF MI won't be the place to be. I was paying $720/month for propane last year this year it's about $550 but I don't see that lasting long.
 
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I am originally from suburban Detroit. It's a mess in the city. I would not spend $1 for a whole city block. Many people in Detroit don't even bother selling their homes. They just leave them if they move.
 
If i didn't have to pay property taxes and other expenses related to those properties, i'd gladly buy large swaths of neighborhoods for just a few hundred bucks total. Sure, you'll probably never get any value from them, but in the off chance that sometime, maybe in a few decades, detroit rebuilds..well, you have land control. The houses are essentially worthless, but i wouldnt mind owning the land itself for such ridiculously cheap prices.
 
It's really interesting to consider another free state project, when you can buy properties in some areas dirt cheap.

Anyone know any other markets just as depressed? I read prisoners in Detroit are refusing to take lesser sentences, as they don't want to get out of jail.
 
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