May 19

Holy cow – buy a neighborhood

Economy, Odd Add comments

image thumb54 Holy cow – buy a neighborhood
Actual house in Detroit. Sold for $1.

The average price of a house in Detroit is $11,533.  Monthly payment… around $50 bucks.

2 Responses to “Holy cow – buy a neighborhood”

  1. Carl Nelson Says:
    May 19th, 2009 at 11:57 am

    The bad news is the Detroit has a lot of such houses that you wouldn’t take if they paid you. The mountain West has a lot also in what they call ghost towns where a boom industry declined. The solution though is not as simple as sound-biters try to make it.

  2. Ken Says:
    May 19th, 2009 at 12:05 pm

    I’m not aware of anything like this in the Mountain West.
    The phenomena seems to be limited to Democratic run states/towns with heavy union participation.

    Simple cause. Simple solution.