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*AHEM* It’s so cold in tha “D”

Damn. I’m from Michigan. Thats f@#ked up……..the Motor City………

Damn this is messed up. Look what the banks and people living beyond their means end up in foreclosure. Also many people working for ford lost their jobs as a result two family incomes became one and in many cases two incomes have been lost. How can the rescued banks allow this to happen to people millions of families are being placed into the streets. What happened to the American Dream? I know I’m on my way to detroit to rent homes to the former owners. smdh

DAMN! This is sooo sad. SMH forever! So basically, when the economy jump starts and the unemployed get on their feet, Detroit will be wholely owned by out-of-state/out-of-the-country landlords. Wonderful! Economic empowerment…not so much. Maybe next lifetime, people will think twice about making it rain w/ rims, ridiculous cars, and ridiculous lifestyles that are beyond their means…smdh

It’s so cold &(Cheap)in the “D” damn SMDH

wow

Who the hell would want to live in Detroit anyway? I’d rather move to Wisconsin.

This is just the beginning!we better start building bunkers!

I guess it is ..cold in the D

I think it’s going to get really crazy soon. I’m trying really hard to stay positive!

@Leader of the Red… and Detoit All Day

I’m from the “D”… my family moved to the suburbs long ago (where I now live). The majority of the homes in the metro Detroit area lost to foreclosure weren’t from people living beyond their means… it’s from massive job loss coupled with home equity loans and mortgages that are now worth more than the homes actual value. Many households have one or maybe both breadwinners working in the Auto Industry (from Blue Collar to top level White Collar execs) and both have suddenly lost their jobs. Unfortunately, there are few jobs available in the metro Detroit area. At least once a week I see a new car (not always luxury) being towed away. Yesterday, a big story on the local news was about the nearly 900 people who showed up to apply for a school custodian (janitor) position… about 50% of the applicants were former executives who were over qualified for $15.00/hr job (folks are looking for any job). I justed hired a high school friend who I found behind the counter at Starbucks (she graduated from Penn and has a Wharton MBA) she’s now working for me for 35 grand w benefits (whereas she was making aroud $120K as a Marketing Executive from one of the big three). Some have upped and left the state while others cannot… it makes you realize how fragile the economy is right now. Michigan solely focused on the Auto Industry for far too long and now the entire area is severely jacked up.

Regarding the cheap foreclosure homes… buyer beware (many of the foreclosed homes are sold site unseen) you never know what you’ll find until you open the front door. A good friend of mine purchased a 5,000 sq ft home in the Boston Edison area (the home pictured above looks like its in the same neighborhood) for $30,000 (under normal circumstances it would be over 200K). All the wiring, plumbing, sinks, water heater, furnace, and wood flooring had been stripped from the home. So far, they’ve sunk over 100K in just bringing the house up to code and can’t sell it because many other homes in the once elegant area are in the same condition. They’re just gonna find a good tenant and hold on to it until the economy turns around then entertain selling it. Right now, Detroit isn’t a good “House Flipping” area.

Sorry for the typos… I was talking on the phone while typing. Detroit, just, around, etc… .

I live in Detroit. While houses arent selling for $1- they are for cheap as hell. My cousin bought her house for $150,000 like 5 years ago. Now all the houses in the neighborhood are going for $7,000 – $10,000. And they are nice sized houses in a decent neighborhood

What u mean who want’s to live in detroit? Just think yea all that property is cheap now, but once the economy picks back up and people actually do something with those homes the value will go up and fatten all those pockets…detroit is on the come up…in case u haven’t heard…

Damn…they can’t even give them away.

It’s too damn cold up there anyways.

I guess that song was true..”its so cold in the D”

@ Colonel Stinkmeaner
Damn. I’m from Michigan. Thats f@#ked up……..the Motor City………
————————————————
Are you still in Michigan?
What city did/do you live in?

@Anon

What suburb are you from?

thats Krazy

Detroit was headed down the tubes before the country was in recession. It’s going to be at least 20 years before anything happens there to make it flourish, mark my words.

““They’re coming to us, saying `Look, I want to buy 50, 100, 1,000.’ They want to own every decent and cheap house they can find.”

Yeah, but what neighborhood are these homes located in? It really does matter.

And I also pray that these folks buying these homes take care of them b/c that’s a major problem with Detroit today. Many people from other states own decrepit and rotting buildings in Detroit but won’t fix them up. They let them rot and ruin the appearance of the city.

@Special Ed……Dropout

My family moved from Detroit to Farmington Hills when I was 9… today, I live in Bloomfield.

Anon ….I know who you are

I am from Detroit yet I now live in southern VA. I still have a home in Detroit that I am unable to sell at the price owed. I purchased a fixer upper in a nice area (Green Acres) so I purchased cheap but made a huge investment to make the house habitable. Fast forward 9 years later and I am upside in my mortgage by $30,000. A realtor came to look at the house and was confident it would sale for $30,000 less than I owe. Comps are showing 3500 sq. ft. homes in Sherwood Forest selling for $60,000 to $75,000. It is unbelievable. Yes, some people are walking away because of finances. Others are walking away b/c their home is worth very little and they can go to another community outside of Detroit and grab a deal! I will try to hang on for as long as possible.

Whats really ashame is the USA lets foreigners but land here but you can not buy nothing in there land that why where so broke now

SHIEEEEEEEET YOU COULDNT PAY ME TO LIVE IN DETROIT.THERE AND CHICAGO…….HELL NAH!!

I’m a ATL cat and I respect the D but DAMN thats pitiful!

the world as we know it is coming to an end.people are going crazy,smh.

The real shame is to buy a house for a dollar and not be able to find a job to keep the heat on. I’m afraid Detriot might become the first metro ghost town.

I have personally bought 60 houses in Detroit and the surrounding areas i the last 12 months. The most I paid for a house was $1500 ( one thousand five hundred). The least I paid was $1. (one buck).

The majority were $500 apiece. Out of the 60 houses I bought, 50 of them were $500 apiece, 8 were $1, and the other 2 were $1500 and $1000 respectively.

Sad but true, this is what detroit has become. I personally know of a few guys who have got packages of 50-100 houses in Detroit and even Hamtramck,Southfield, Westland thrown in for $1 total investment. Although to get that type of package you need to spend One million plus on a package of houses across American and they will throw in like 30-100 for free from Detroit or Clevland or both

My 2 cents.