Abductor wrote:

geiginni wrote:you could have a small sustainable living community in the middle of an urban hellhole.

People are already doing this in Detroit.

I played at a place that was doing this. And hey, they're doing affordable housing for artists in Detroit. (Street view)

So why are houses that cheap? Besides the the fact they need work, but fuck, if you are a contractor or know general contracting you could save big dollars.

What is the catch?

TRIFECTA wrote:So why are houses that cheap? Besides the the fact they need work, but fuck, if you are a contractor or know general contracting you could save big dollars.

What is the catch?

That they're in Detroit?

"Look, I'm gunna play hardball - I know you got problems out here. You give me this 3 bedroom house for 500.00 USD, but I absolutely MUST be shot in the face in the next three months!"

Maurice wrote:

TRIFECTA wrote:So why are houses that cheap? Besides the the fact they need work, but fuck, if you are a contractor or know general contracting you could save big dollars.

What is the catch?

That they're in Detroit?

That is obviously a negative thing, but when other houses, in this condition are averaging at around 20-40 grand around the country (obviously needs to be purchased with cash most of the time, cause FHA says no fucking way), there has to be a catch.

Same thing happens in a lot of blighted areas, including Chicago. They are basically selling for land value minus the cost of knocking the house down and hauling it away. Factor in that the new buyer has to pay taxes on a property which is generating no income and you can see why no one would pay anything for the house.

Here is one at 10808 S. Edbrooke on the south side of Chicago. It has been listed at $3,900 for over 4 months. No takers. I wouldn't be surprised if it sold for $0 eventually.

TRIFECTA wrote:

Maurice wrote:

TRIFECTA wrote:So why are houses that cheap? Besides the the fact they need work, but fuck, if you are a contractor or know general contracting you could save big dollars.

What is the catch?

That they're in Detroit?

That is obviously a negative thing, but when other houses, in this condition are averaging at around 20-40 grand around the country (obviously needs to be purchased with cash most of the time, cause FHA says no fucking way), there has to be a catch.

1) Ever spent time in Detroit? Even the NICE parts are shitty. And these $100 houses are not in the nice parts.
2) These houses are condemned.
3) The taxes have to be paid.
4) The insurance costs a fortune
5) The neighborhood is one big crack house.

Sound like a catch?

Who knew there were downsides to years of official and unofficial racist discrimination and subjecting people to extreme poverty?