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  1. #1
    Lord of Swine
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    Real Estate Bargains in Failed US Cities. But you might die.

    ‘You will die’: $20,000 house comes with ominous warning

    A bargain at $20,000?



    Detroit is a city in serious trouble. The decline of the automotive manufacturing industry has led to economic collapse and urban decay.

    In 2013, the city filed for bankruptcy — the largest municipal bankruptcy in US history.

    With parts of the city described as ghost towns, abandoned or foreclosed homes are selling for as little as $1 (although the land tax will come back to bite you).

    This house at 621 Clairmount Street is relatively pricey for the stricken city at $19,500, but it could be one of the most terrifying property listings ever.



    Photos posted by the real estate agent show battered walls smeared with red marks suspiciously resembling bloody finger marks.

    In one photo, the words “YOU WILL DIE” appear scrawled on the wall in the same red liquid. We’re not saying it’s blood, but it’s probably blood.



    The house is described by the seller as a “great opportunity” with “a lot of square feet and potential”. Potential for death, that is.

    “Fix and flip or rent, or great for first-time buyers. Home needs work but seller is motivated,” the listing reads. Motivated sounds like an understatement.

    Still, if $19,500 is out of your price range, 15741 Bentler St is a more reasonable $800, and comes with far less threatening graffiti.


    The arrow represents the fastest route away from the house.

    Or there’s 12811 Freeland St, a steal for just $500 — just mind the roof doesn’t fall on you. Or the snakes don’t bite you. Or the step doesn’t break your ankle.



    The collapse of Detroit is no laughing matter. In April this year, the city launched an auction program in a bid to fill vacant homes with new neighbours.

    Each day a new home is put up for auction, with the winning bidders obliged to fix up the and occupy the property within six months.

    Detroit Mayor Mike Duggan said the Neighbours Wanted program was designed to give buyers confidence that other families were also making a commitment to move into abandoned neighbourhoods.

    “We’re going to fix up entire neighbourhoods at once,” Mr Duggan said. “It’s important that everyone who buys one of these houses is serious about getting them rehabbed and occupied.”

    It may take some time, however — since May, fewer than 100 properties have been sold under the program. That will barely scratch the 75,000 “blighted” residential structures identified in a report by the Detroit Blight Removal Task Force.


    Still too expensive? How abut the sub $100 budget range......





    Would you buy this for a dollar?




    http://www.news.com.au/finance/real-...-1227016623318
    Last edited by Necron99; 07-08-2014 at 02:38 PM.

  2. #2
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    Albert Shagnastier's Avatar
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    ^Don't let Deadbroke see this thread - it'll fuck up his theories

  3. #3
    En route
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    Who owns the houses now though?

  4. #4
    Lord of Swine
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    Quote Originally Posted by Koojo View Post
    Who owns the houses now though?
    The sub 100 ones would be the city I think, seized for back taxes.

  5. #5
    Excitable Boy
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    Quote Originally Posted by Koojo View Post
    Who owns the houses now though?
    If the property taxes haven't been paid in over a year, the city can foreclose on and sell a property to recoup the unpaid amount. In the cases above, they're just trying to get someone to take over the properties to generate some tax revenue, which is why the prices are so low.
    There he goes. One of God's own prototypes. A high-powered mutant of some kind never even considered for mass production. Too weird to live, and too rare to die.
    HST

  6. #6
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    So looks like a lot of people have just walked away from their family homes that they no doubt at some time invested a lot in, financially and emotionally. Pretty sad.

  7. #7
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    I heard Indians (the curry eating type in India) were buying properties in NY State for a few thousand dollars as long term investments and to be able to laugh and brag at parties about owning a "house in New York"

  8. #8
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    There's a similar story in Athens, Greece. Apartments in down town areas selling for 10,000 euros or less. Buildings being demolished and left as empty plots everywhere - especially near Omonia Square.

    Used to be a nice residential area with lots back packer type hostels and local restaurants. now its full of illegal African, Albanian and assorted scum immigrants.

  9. #9
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    Quote Originally Posted by Lostandfound
    and assorted scum immigrants.
    fukkin Aussies.

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