|
02-26-2009, 06:40 PM
|
#1
|
Aluminut
2004 25' Safari
.
, Illinois
Join Date: Feb 2003
Posts: 10,477
|
Real Estate in the Detroit Metro area
A few nights ago, on world news they were talking about houses for sale for $1. I thought yea, right, so for grins I went on an online real estate website and OMG, not that I'm about to live in downtown Detroit, but there are houses for sale for $50. Even 20 miles from downtown, unreal prices....I mean unreal. I knew the economy was bad, but houses for $1, $25, $100?
I know jobs are just nowhere in the area, but wow, this is crazy!
|
|
|
02-26-2009, 06:54 PM
|
#2
|
Moderator
2015 25' FB Flying Cloud
2012 23' FB Flying Cloud
2005 25' Safari
Santa Rosa Beach
, Florida
Join Date: Jul 2006
Posts: 13,159
|
That's really, really sad. Detroit was once the Mecca of the world's automotive industry. I hate hearing this.
Brian
__________________
SuEllyn & Brian McCabe
WBCCI #3628 -- AIR #14872 -- TAC #FL-7
2015 FC 25' FB (Lucy) with ProPride
2020 Silverado 2500 (Vivian)
2023 Rivian R1T (Opal)
|
|
|
02-26-2009, 07:28 PM
|
#3
|
Rivet Master
1955 22' Safari
Currently Looking...
Great Lake State
, .
Join Date: Nov 2005
Posts: 1,480
|
Quote:
Originally Posted by Silvertwinkie
A few nights ago, on world news they were talking about houses for sale for $1. I thought yea, right, so for grins I went on an online real estate website and OMG, not that I'm about to live in downtown Detroit, but there are houses for sale for $50. Even 20 miles from downtown, unreal prices....I mean unreal. I knew the economy was bad, but houses for $1, $25, $100?
I know jobs are just nowhere in the area, but wow, this is crazy!
|
Metro Detroit's suburbs are among the most affluent in the nation. Oakland County is the 4th richest county in the country, border's Wayne County, Detroit is in Wayne Country.
The median income in Bloomfield Hills , Michigan for a household in the city was $170,790, and the median income for a family was over $200,000.
Oakland County, Michigan - Wikipedia, the free encyclopedia
|
|
|
02-26-2009, 08:07 PM
|
#4
|
Rivet Master
2007 23' International CCD
Lapeer
, Michigan
Join Date: Oct 2003
Posts: 7,082
|
Well we got our work camping to do this summer in Wisconsin. GM/Delphi did get the bankruptcy judge to say they could take away the retirees health care and life insurance benefits a couple of days ago. 33 years, then took the job away, and now the benefits...those premiums are more then the pension! Can't even sell to get out.
|
|
|
02-26-2009, 08:11 PM
|
#5
|
Aluminut
2004 25' Safari
.
, Illinois
Join Date: Feb 2003
Posts: 10,477
|
Quote:
Originally Posted by toastie
Metro Detroit's suburbs are among the most affluent in the nation. Oakland County is the 4th richest county in the country, border's Wayne County, Detroit is in Wayne Country.
The median income in Bloomfield Hills , Michigan for a household in the city was $170,790, and the median income for a family was over $200,000.
Oakland County, Michigan - Wikipedia, the free encyclopedia
|
Though all this may be true, I can get a 4 bedroom 3 bath ranch house in Bloomfield Hills for $100k. I can't get an outhouse around Chicago for that price......
As for the Delphi thing, I am so sorry the whole thing is just surreal and heartbreaking to see as Brian pointed out.
I did as much as I could....my vehicles all have tons of Delphi parts in them.
|
|
|
02-26-2009, 08:25 PM
|
#6
|
Rivet Master
1955 22' Safari
Currently Looking...
Great Lake State
, .
Join Date: Nov 2005
Posts: 1,480
|
Quote:
Originally Posted by Silvertwinkie
Though all this may be true, I can get a 4 bedroom 3 bath ranch house in Bloomfield Hills for $100k. I can't get an outhouse around Chicago for that price......
As for the Delphi thing, I am so sorry the whole thing is just surreal and heartbreaking to see as Brian pointed out.
I did as much as I could....my vehicles all have tons of Delphi parts in them.
|
I found one for you, what a deal
Homes For Sale - Real Estate Listings | CENTURY 21 Property Details
|
|
|
02-26-2009, 08:32 PM
|
#7
|
Aluminut
2004 25' Safari
.
, Illinois
Join Date: Feb 2003
Posts: 10,477
|
Quote:
Originally Posted by toastie
|
Ahh, yea, not quite the same neighborhood(s) as Bloomfield Hills
Getting similar areas to Bloomfield Hills, I could not afford the siding on a corner of those house around here. Do a search in Wilmette, Winnetka, Lake Forest, Highland Park, Glencoe and Kenilworth...those would be comparable.
|
|
|
02-26-2009, 08:34 PM
|
#8
|
Moderator
1968 17' Caravel
Battle Ground
, Washington
Join Date: Dec 2002
Posts: 12,255
|
I was looking at Detroit on Google Earth the other day and it looks like right outside the downtown core is just a wasteland of vacant lots.
I don't understand the ridiculously low prices on homes, I would think if you'll take $100 for it, you might as well wait until things pick up again. Is it really that bad up there that things are just not going to pick up again?
It's amazing how different conditions can be in different parts of the country. I think the NW has not felt the effects like other parts of the country have - at least not yet.
__________________
Stephanie
|
|
|
02-26-2009, 08:39 PM
|
#9
|
Aluminut
2004 25' Safari
.
, Illinois
Join Date: Feb 2003
Posts: 10,477
|
Quote:
Originally Posted by Stefrobrts
I was looking at Detroit on Google Earth the other day and it looks like right outside the downtown core is just a wasteland of vacant lots.
I don't understand the ridiculously low prices on homes, I would think if you'll take $100 for it, you might as well wait until things pick up again. Is it really that bad up there that things are just not going to pick up again?
It's amazing how different conditions can be in different parts of the country. I think the NW has not felt the effects like other parts of the country have - at least not yet.
|
This is basically ground zero for the auto industry. They have been hemorrhaging jobs faster than a sailor in a port of call with a fist full of fifties.
Most I've seen are bank owned.
|
|
|
02-26-2009, 08:41 PM
|
#10
|
Rivet Master
1955 22' Safari
Currently Looking...
Great Lake State
, .
Join Date: Nov 2005
Posts: 1,480
|
Quote:
Originally Posted by Stefrobrts
I was looking at Detroit on Google Earth the other day and it looks like right outside the downtown core is just a wasteland of vacant lots.
I don't understand the ridiculously low prices on homes, I would think if you'll take $100 for it, you might as well wait until things pick up again. Is it really that bad up there that things are just not going to pick up again?
It's amazing how different conditions can be in different parts of the country. I think the NW has not felt the effects like other parts of the country have - at least not yet.
|
Downtown Detroit been like that for years, its hard to believe but its better now then it was 20 years ago. Michigan will make a comeback, out with the old in with the new. This is just a start.
A123Systems Announces Plan to Build U.S.-based Lithium Ion Battery Mass Production Facilities | Business Wire | Find Articles at BNET
|
|
|
03-09-2009, 11:32 AM
|
#11
|
Aluminut
2004 25' Safari
.
, Illinois
Join Date: Feb 2003
Posts: 10,477
|
|
|
|
03-09-2009, 01:08 PM
|
#12
|
Miss Rivette
1965 17' Caravel
Hell
, Michigan
Join Date: Apr 2007
Posts: 1,644
|
Michigan is a hard state to live and work in. I have lived here all my life, and I am scared to even think about buying a house here. Im scared because if I lose my job (Knock on wood) and cant find another one, you are stuck with a house in a place where you cant make an income. Michigan is hurting BAD!
|
|
|
03-09-2009, 01:53 PM
|
#13
|
Rivet Master
Southwestern
, Ohio
Join Date: Nov 2006
Posts: 1,671
|
Laura,
I know that Michigan is hurting, but real estate should hold up well in your town. The whole country is going to Hell.
|
|
|
03-09-2009, 02:05 PM
|
#14
|
Rivet Master
2011 25' FB Flying Cloud
Anywhere &
, Everywhere
Join Date: Aug 2006
Posts: 1,090
|
And if you live in Hell, MI you can always drop in to Screams and drown your sorrows in ice cream!
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
Recent Discussions |
|
|
|
|
|
|
|
|
|
|
|