Jump to content
House Price Crash Forum

Detroit To Destroy 10,000 Abandoned Homes


Recommended Posts

I am wondering if the $10 house would be a better bet now; at least to buy a block of them and demolish the worst ones. If the city is demolishing lots of them then the remainder may have some value. Long-term, who knows if Detroit may have a renaissance?

Property and land speculators get rich by buying at the bottom and playing a long game.

Link to comment
Share on other sites

I am wondering if the $10 house would be a better bet now; at least to buy a block of them and demolish the worst ones. If the city is demolishing lots of them then the remainder may have some value. Long-term, who knows if Detroit may have a renaissance?

Property and land speculators get rich by buying at the bottom and playing a long game.

I think the city needs to shrink rather than just becoming more diffuse, because the collapsed tax base can't support municipal services over such a large area. If so, it's a case of demolishing the worst blocks/neighborhoods as opposed to the worst houses. The fact that they're talking of turning residential land into farms and parks supports this view.

Link to comment
Share on other sites

Looks like this is it. A good £1m over here i'd say!

If anything that proves how detached from reality UK house prices are.

The value of a house needs to be in relation to local income levels.

Since in Detroit there are few jobs left, people left in masses and therefore naturally the houses are worth zero.

Edited by wise_eagle
Link to comment
Share on other sites

If anything that proves how detached from reality UK house prices are.

The value of a house needs to be in relation to local income levels.

Since in Detroit there are few jobs left, people left in masses and therefore naturally the houses are worth zero.

nah it's cos they ave more land innit!

Link to comment
Share on other sites

So it's not empty. It is full of trees, widlife or is used for growing food but hasn't yet disappeared under concrete.

You are making an entirely different point, I simply replied to the argument that we don't have as much land as the US.

We don't have as much in absolute terms, but we certainly have more than enough if it was redistributed more equally.

All it needs is another 1 or 2% rezoned as building land and houses/land would cease to be a way to enslave the population.

Link to comment
Share on other sites

Not really Ken! I was thinking quietly falling back to nature, trees growing in buildings. Not fresh water seas drying up and becoming saline. Interesting though. I'd like to see more from Chernobyl but I can fully understand why film crews don't go there.

Chernobyl Legacy by Paul Fusco.

Beautifully photographed and narrated, but some of these images are very disturbing and may upset you if you have young children.

http://inmotion.magnumphotos.com/essay/chernobyl

Link to comment
Share on other sites

Fact: If you can roll a shark over onto its back it will almost instantaneously become unconscious for however long its on its back

You (and a few other more recent members) have a cunning ability to derail any thread you don't seem to like with nonsense OT comments.

Edited by wise_eagle
Link to comment
Share on other sites

There were whole streets of council houses demolished in south Liverpool in the late 80s because the city's population was falling and the demand wasn't there.

I believe that there was later a regeneration scheme in which lots of houses were compulsorily purchased and redeveloped, leaving the original owners seriously out of pocket (and out of home). The former residents couldn't afford to buy a property in the new development. Another oft forgotten risk of home-ownership - compulsory purchase!
Link to comment
Share on other sites

You are making an entirely different point, I simply replied to the argument that we don't have as much land as the US.

We don't have as much in absolute terms, but we certainly have more than enough if it was redistributed more equally.

All it needs is another 1 or 2% rezoned as building land and houses/land would cease to be a way to enslave the population.

Hokay. I might have been a bit touchy there, I don't like the word "empty" being applied to all that makes this country great and beautiful and in which I spend 90% of my lesiure time.

Link to comment
Share on other sites

good topic.

This is coming to various north eastern and west (not south west) coast, scottish and welsh cities and towns round the UK from around 2020 onwards.

Peolpe often think population imgration and decline result in lots of cheap real eastate for thos eleft over but the reality is that the old housing stock cannot be maintained or supplies with utiolities cost effectively so it gets destroyed not only to protect the value of the remaining stock but to avoid unnecessary expenditure on un-needed infrastructure.

However before this comes to the UK we'll get to see the effects of large parts of eastern germany, eastern europe, southern italy and spain/portugal get returned to nature.

Link to comment
Share on other sites

That's the sort of thing corevalue. Awesome, reminds me of some of Philip K Dick's imagined futures.

And there are always things that you don't consider - the way that wanted criminals are fleeing to the Chernobyl area for example. And quite how big the contaminated area is. Radiation levels still look way too high for me to even want to visit it.

Chernobyl Legacy by Paul Fusco.

Beautifully photographed and narrated, but some of these images are very disturbing and may upset you if you have young children.

http://inmotion.magnumphotos.com/essay/chernobyl

Not nice. I like the way nature recovers after human damage.

Link to comment
Share on other sites

Detroit appears to be an object lesson as to why it's not a good idea to build an entire city around a single industry. It's already clear that the next generation of motor vehicles (electrics, hybrids, and mega-efficient diesels) aren't going to be built by the 'big three' - they've already been left behind on that score. Same scenario with Middlesbrough and initially the docks/coal export and then later iron and steel, and finally chemical production. The first two are more or less totally gone and the third is in decline. I wouldn't be surprised if in a century's time, M'bro is back to where it was in the eighteenth century: a fishing village on the bank of the Tees.

The other issue with Detroit is that it has one of the biggest airports in the US. I presume that at the moment, it's probably safe as a transit hub (I change planes through DTW once or twice a year, and will be doing so in July). But as originating and destination traffic declines, and presumably Delta will want to rationalise their hubs following the merger with Northwest, I wouldn't be surprised to see some quite brutal downsizing at that airport.

Its safe as a hub beacause of flight plans. Detroit is perfectly position for Transatlantic flights and the far east etc. Its right on the flight path.

As for $10 houses someone else mentioned. When I was living there I saw these for sale. Forget the fact they are in very rough neighbourhoods (makes Salford and Hackney look like Mayfair) they aren't $10. You have to pay off the tax debt and that mounts to many many thousands (typically tens). Was strange to see them look that cheap though.

Sad as Detroit used to be a beautiful place and so many people there are just incredibly friendly.

Link to comment
Share on other sites

Sad as Detroit used to be a beautiful place and so many people there are just incredibly friendly.

True, the current situation is sad, but the regeneration plans (if implemented well) could mean that things will be improving again for Detroit.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.





×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.