Reply With QuoteMy Lord, that is tragic to see so many family homes at what must be a fraction of their original cost. If the city ever bounces back, someone will make a bomb!
My Lord, that is tragic to see so many family homes at what must be a fraction of their original cost. If the city ever bounces back, someone will make a bomb!
Off their highs pre-crash but have been doing relatively well in recent years ...
Paul
http://www.theguardian.com/money/201...d-uk-investorsPat Njagi had any nagging doubts about her buy-to-let investment in Detroit, they were surely confirmed last February when she was told that she wouldn’t be receiving that month’s rent. The reason? Her rent collector had been shot, robbed, and left to die on a doorstep.
Like hundreds of other Brits who were persuaded to buy property in America’s most depressed city, the teacher, who lives in Bishop’s Stortford, Hertfordshire, was sold the promise that the city would soon bounce back.
Now she fears she has lost the £18,000 inheritance she invested in a house in the city less than two years ago. Along with many others she says she was persuaded to buy a three-bed house that came with a sitting tenant and a promised 20% annual return.
Today she is being sued by a property management company in Detroit for unpaid fees and faces losing her entire investment. Her only solace, she says, is that it could have been a lot worse. Others who bought multiple properties claim to have lost up to £80,000.
Just curious...would anyone here be tempted to go and start a new life there based on these house values?
"Her rent collector had been shot, robbed, and left to die on a doorstep."
"However, when his tenant left he asked a local agent to visit his property. The reports shocked him: he says he was told that wild dogs were living in his house and that it had been gutted."
Nah, you're alright
Brighty
Er.....nope!Originally Posted by scarto
Quite frankly, no.
Detroit is one of the fastest shrinking cities in the US. It's the most dangerous city in the US. 1/3 of the population live in poverty. The property prices are low for good reason.
There are decent jobs to be had there, but it's no place to raise kids unless you like living in a walled off suburban enclave. I'd rather live somewhere I can walk around.
How the other half live. We stay on the west coast of Scotland just outside a pretty wealthy town. The locals were up in arms and story in the newspaper because some depraved, vicious, violent perverted gangster spraypainted a knob on the road.I kid you not. That was a big news day.
I wouldn´t. Would you?
I would, but not because of house prices. The opportunity to be at the start of something new, when the challenges are almost insurmountable, when the only way is up, is a rare thing.
Up, or dead.
"Bite my shiny metal ass."
- Bender Bending Rodríguez
I was in Dubai a few years ago and the air con not working at a bus stop was front page news!How the other half live. We stay on the west coast of Scotland just outside a pretty wealthy town. The locals were up in arms and story in the newspaper because some depraved, vicious, violent perverted gangster spraypainted a knob on the road.
Exactly so!
Disgraceful. Was the knob well drawn ?How the other half live. We stay on the west coast of Scotland just outside a pretty wealthy town. The locals were up in arms and story in the newspaper because some depraved, vicious, violent perverted gangster spraypainted a knob on the road.
Meet the future.
It is already here at the coast, in Madrid etc.:
The affluent live in luxury within walled large compounds, in effect complete villages with shops and schools, to keep those who provide the income out. Man as a domesticated species.
Good grief - if you go to page twenty or so on the Rightmove Detroit link above, you can see five bed houses being sold for £10k GBP. Staggering.
The prices are phenomenal but so is the pain of eating high-velocity lead!
Hmm and the latest residential bargain hotspot likely to be in Ferguson.
Top story today in York.
"Pensioner injured in crash – 78-year-old man was taken to York Hospital for a precautionary check-up."
You keep Detroit, I'll stay here thanks.
Thus thought the 12 y.o. boy when he was shot in the stomach.
Well that was the cause of the uproar. The style was abstract but the town has more of an expressionist vibe.Disgraceful. Was the knob well drawn ?
LOL.Well that was the cause of the uproar. The style was abstract but the town has more of an expressionist vibe.
ROFL!Well that was the cause of the uproar. The style was abstract but the town has more of an expressionist vibe.
Feels bad to think about all those families who had lost they homes and entire lives because of that... in Times there is a pretty apocalyptic picture set how Detroit has turned to ghost town. Somehow I understand living houses but railway stations and even schools...
http://content.time.com/time/photoga...882089,00.html
-OD
Robocop is needed more than ever now.
Looking at those pictures of the ranks of armoured police in Ferguson I thought of that movie.
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