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Is there any reasonable explanation for houses sold at $1 dollar, even in this crisis?
by GreatZamfir on Wed Feb 13th, 2008 at 11:38:17 AM EST
[ Parent ]
I don't find the link any more.
But it may well make sense in some special cases. What should a company do, if they do not believe they can sell the house in the next years. Not selling it costs the company money, e.g. property taxes, for selling it in some years they have to pay the upkeep and secure it.
In a region with high unemployment, where everybody wants to leave it isn't too absurd.
In other areas even new build houses are taken down, for preventing the whole quarter to become shabby.

This is not meant representative, but only anecdotal.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers

by Martin (weiser.mensch(at)googlemail.com) on Wed Feb 13th, 2008 at 12:21:05 PM EST
[ Parent ]
This is a good example of how foreclosed homes are managed when they are not occupied. Look at the bottom where they are looking for contractors to maintain the homes. This of course costs money. (Snow removal in Northern Michigan is pretty serious business btw, I spent the majority of my childhood there and i can tell it can easily bury a house. Not cheap.)

Here's a list of cities in Michigan where you can buy a house for a dollar. Select Detroit, and knock yourself out.

I wouldn't recommend buying one, though. A dollar might be too expensive.

Why might a home only cost a dollar? Well, if you're unsure of the viability of future basic municipal services like water, and there is no safe groundwater to tap anymore what is the value of the land for residential purposes? The American West is littered with ghost towns where there is no groundwater...

(And this is without even thinking about more intermediate concerns like schools or police and fire protection, also severe problems in American cities where the recession of 2000/2001 still continues, as it does in Detroit.)

The Hun is always either at your throat or at your feet. Winston Churchill

by r------ on Wed Feb 13th, 2008 at 12:48:53 PM EST
[ Parent ]
There is a village near the Lure mountain which moved lower in valley in the 1930's after the war had decimated the population. The local people didn't want to sell the land, (that wass not done in these parts at the time) so they tore down all the roofs in order to save on taxes. The houses would probably be still up if they hadn't done so...

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Wed Feb 13th, 2008 at 01:07:28 PM EST
[ Parent ]
neglect of cities and open warfare on workers since the late 1970's.

Here's a tour of Detroit:

Want to know why houses only cost a dollar in many parts of Detroit? Watch the video.

This is what anglo disease looks like when it enters terminal stage.


The Hun is always either at your throat or at your feet. Winston Churchill

by r------ on Wed Feb 13th, 2008 at 01:23:21 PM EST
[ Parent ]
Ah. Point taken. You guys still have more land than people...
by GreatZamfir on Wed Feb 13th, 2008 at 01:53:43 PM EST
[ Parent ]
The first few scenes of the video look just like the place where I was born.  The differences were no crime, no rap/drama, and no one telling everyone how really poor they actually were.  Anglo disease has been around a long long time.

I can swear there ain't no heaven but I pray there ain't no hell. _ Blood Sweat & Tears
by Gringo (stargazing camel at aoldotcom) on Wed Feb 13th, 2008 at 03:12:24 PM EST
[ Parent ]
Agreed.

In developed countries, however, such scenes are quite the thing of the past. Even the worst parts are nothing like this.

With the notable exceptions of the English-speaking parts of it.

Thus the term Anglo-disease. Imho.

The Hun is always either at your throat or at your feet. Winston Churchill

by r------ on Wed Feb 13th, 2008 at 03:28:19 PM EST
[ Parent ]


I can swear there ain't no heaven but I pray there ain't no hell. _ Blood Sweat & Tears
by Gringo (stargazing camel at aoldotcom) on Wed Feb 13th, 2008 at 03:41:12 PM EST
[ Parent ]
The US may be a wealthy country but it does have 3rd-world levels of inequality. It's quite shocking.

We have met the enemy, and he is us — Pogo
by Carrie (migeru at eurotrib dot com) on Wed Feb 13th, 2008 at 05:26:09 PM EST
[ Parent ]
Not the English speaking parts in general. I doubt that Canada, Australia or NZ have anything like Detroit and, while there are some blighted bits of Britain (Liverpool for example), there's nothing as grotesque as Detroit or Baltimore here.

This sort of abandonment of urban cores is an exclusively Stateside phenomenon I think.

Regards
Luke

-- #include witty_sig.h

by silburnl on Thu Feb 14th, 2008 at 07:56:32 AM EST
[ Parent ]
The desolation that is modern Detroit was one of the most shocking things I've ever seen.  I lived in Ann Arbor for several years, an isolated enclave of wealth supported by the university and the various industries it draws, but I made it out to Detroit on several occasions, and it is just shocking.

Seriously, neither China nor Thailand looked anywhere close to as bad.

by Zwackus on Wed Feb 13th, 2008 at 05:33:59 PM EST
[ Parent ]
It's a modern ruin. Various parts of the old industrial east look similar. Detroit is particularly bad as it was not successful in bringing in any modern industry (semiconductors, biotech, etc) when heavy industry started to die off. Detroit and Baltimore in particular no longer have a reason to exist, frankly.

Most of the wealth in the US is concentrating in a handful of larger cities. The wealth on display here in San Francisco and Los Angeles was very surprising to me when I first saw it, and I grew up in a city (Minneapolis) that went straight from an agricultural center to a white collar town and as such has maintained its health and prosperity for many decades.

you are the media you consume.

by MillMan (millguy at gmail) on Wed Feb 13th, 2008 at 07:39:51 PM EST
[ Parent ]

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