Quote:
Originally Posted by Matt 26z
Both.
Plus it looks like those homes have been destroyed by fire. I'm guessing land value in the ghetto isn't much more than the demolition cost.
I did see on TV awhile back how foreclosed property in Detroit was selling for insanely low prices at property auctions though. So many foreclosers that there wasn't even enough vultures to swoop down and get them, so the prices were driven way down.
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Not all of them man.. I raised the prices and checked some of the $10k to $30k homes. There are a lot of pretty decant looking houses on there. I mean hell even if they are in the poor sections of town, as long as it's not crack town seems like some money could be made in rentals.
Is it that bad there that no one is investing?