The Detroit area and Detroit in particular have way too much housing. Unsurprisingly, some of that housing is really cheap. That doesn’t mean it can’t get cheaper, and it certainly means that a lot of neighborhoods are essentially going to be abandoned. It also doesn’t mean that the city is going to disappear–I think that is very unlikely. But it is very likely to shrink a lot more, but probably not in a uniform fashion–it has been anything but uniform up until now. There will be winners and losers, and as with any investment you want to spot the winners. A lot of buildings in Detroit are more like options than actual properties.

That said. 2 blocks east is the interstate and 2 blocks west is Woodward Ave containing an assortment of burned out, boarded up and blighted storefronts. Oh and the liquor store. Unfortunately since the riots and Coleman Young the fate was sealed.

Also many of these homes were gutted for their ornate fixtures etc. which now that the horse has left the barn is illegal.

The caption should read, Prisoner in Your own 5 BR home for only $8995.

Hope all is well and all the best for the holidays and New Year to you and your family.

to your point, see:

“The real menace of our republic is this invisible government which like a giant octopus sprawls its slimy length over city, state and nation. Like the octopus of real life, it operates under cover of a self created screen….At the head of this octopus are the Rockefeller Standard Oil interests and a small group of powerful banking houses generally referred to as international bankers. The little coterie of powerful international bankers virtually runs the United States government for their own selfish purposes. They practically control both political parties.” — New York City Mayor John F. Hylan, 1922

sometimes, when it’s woven into the Fabric, one doesn’t comment on every thread..

like this:
http://www.icerocket.com/search?tab=web&fr=h&q=AIG+CIA

in re: nearby thread..

There’s a reason why this classic New Yorker cover is as funny as it is…

Then again, after riding cross country earlier this year (recapitulating a childhood family trip solo) I found that many places were pretty darned homogenous, but at least the folks were friendly (especially when I ran into trouble out of ATT Wireless range :p)..

“.. looks quite nice (lots of foliage and big yards).”

ROFLMAO. There’s lots of foliage because Detroit is returning to nature as civilization collapses. Check it out here. Some pictures really are better than a thousand words.

Why is this place going for $9K? Because you’d be crazy to go there unarmed, and preferably with bulletproof clothing and your own security detail, that’s why. And if you managed that, then you’re dealing with a city government that is essentially a crime syndicate. Plus the line on the prospectus that says School District: DETROIT – surely that speaks for itself. Hey, there are literally millions of middle-class people in southeastern Michigan who are passing on this deal.

I discovered this blog about a year ago, and that discovery literally saved me a bundle. It was what I read on here that finally prompted me to get almost all my money out of stocks last spring. I am seriously grateful, both to the proprietor and to many of the commenters. That is why I am all the more amazed at some of the unworldliness and political naivete of some otherwise very intelligent and savvy posters. Do they never get out of New York?