Detroit family home still for sale after 519 days despite being on the market for just $1
Anyone wanna buy a house? lulz
Spoiler!
House built in 1915 has been listed for sale since May 2011 It was initially placed on the market for $900 Is one of a number of run-down properties lying in suburbs of bankrupt city It may not look particularly attractive, but as just $1 this family home is a complete bargain.
However, despite being on the market for the drop-down price since February last year, the Detroit property is astonishingly still for sale. It is one of a number of run-down properties lying in the suburbs of Michigan's largest city, which earlier this month filed for bankruptcy, crippled by enormous debts.
You know, you'd think buying these houses would be like investing in stock. Just waiting for property values to get on the up and up, but sadly, thanks to local/state/federal government, buying these properties would just be a huge pain in your ass. To think, I coulda had my own neighborhood...
Yea the taxes in Detroit are still waaaay higher than they should be. You could probably own an entire mini city here if you wanted. I've driven by area's of Detroit that are probably a square half mile that are just abandoned.
Eventually these abandoned houses will be bought up by some property developer and they'll make a killing. The city just needs to show signs of rebounding first.
inky wrote:You can probably just strip the metal parts from the house and sell it for a lot more than $1.
You'd make a lot of money with a suburban neighbourhood's worth of copper pipe and wire but I'd imagine someone has already ripped it out of all of these abandoned houses. Scrapping copper pays well.
Well, there are entrepreneurs out there always trying to find good investments... If they aren't willing to spend a few thousand dollars, out of the millions they are making, I doubt wasting time or money on these houses would prove beneficial.
Fiction wrote:Well, there are entrepreneurs out there always trying to find good investments... If they aren't willing to spend a few thousand dollars, out of the millions they are making, I doubt wasting time or money on these houses would prove beneficial.
