Foreclosure fallout: Houses go for a $1

[RiversideGator]

Uhh.  Take a look at the local Detroit city government...

Perfect right wing model.
Too underfunded to do anything, too inefficient and ineffective to make a difference.

government you could drown in a bathtub.

Perhaps you should speak to your fellow Democrats then who have controlled Detroit city government for decades.

seriously?

Are you retarded, River?  Or just too bloody lazy to read any of the posts on this site?

Are you too uneducated and ill-informed to make a point without hurling a personal insult?  Seriously.

Lunican

Its not much better down here in Boca Raton.

I spent this evening at a Republican Fundraiser with a few old friends, and the real estate news down here is grim.

Its weird to see the actual wealthy actively worried about the state of money.

This is such an oasis, or at least it has been my whole life.  I would never have believed that hard times would come here.

Not that you would really be able to notice the difference-- certainly the 150.00 a plate restaurants are still all packed everytime weve been out to eat, and the private clubs are still jammed with people at leisure.  But the conversations are all about people who have lost everything.

Turn off the autopilot remark-o-maker and read the damned posts please.

I did not realize you were still an active Republican.  Perhaps the confusion stems from the fact that you are currently supporting Democrats and Obama. 

[Doctor_K]

name the ones who are presently prospering, smart guy.

Pittsburgh: http://en.wikipedia.org/wiki/Pittsburgh#Economy

The growth of Pittsburgh and its economy was caused by the extensive trade of steel. Since, Pittsburgh has adapted to the collapse of the region's steel industry. The primary industries have shifted more to high technology, such as robotics, health care, nuclear engineering, tourism, biomedical technology, finance, and services. The region’s technology industries, when taken in aggregate, their total annual payroll exceeds $10.8 billion. Education is also a major employer, from primary through magnet schools, specialized professional institutes and highly-ranked universities. In fact, Pittsburgh still maintains its status as a corporate headquarters city, with seven Fortune 500 companies calling the city home. This ranks Pittsburgh in a tie for the sixth-most Fortune 500 headquarters in the nation. In 2006, Expansion Magazine ranked Pittsburgh among the top 10 metropolitan areas in the nation for climates favorable to business expansion.

Allentown, PA: http://en.wikipedia.org/wiki/Allentown%2C_Pennsylvania#Economy

While many of Allentown's major industrial businesses have disappeared over the past two decades, the city continues to serve as the location of corporate headquarters for several large, global companies, including Mack Trucks, PPL and others.
There is plenty of renewed interest in Allentown on behalf of business owners. About $488 million in development is finished or under way in and around downtown and more than 80 percent of Hamilton Street storefronts are full between Third and 10th streets. The city has 6,420 licensed businesses, the most in a decade.
The largest employer in Allentown is Lehigh Valley Hospital and Health Network, with over 7,800 employees.

And one more blurb on the larger Lehigh Valley region, where Allentown, Bethlehem, and Allentown are all located: http://en.wikipedia.org/wiki/Lehigh_Valley#Industry

After the 2003 demise of Bethlehem Steel, Lehigh Valley Hospital and Health Network (in Allentown), one of Pennsylvania's largest hospital systems, has taken Bethlehem Steel's place as the Lehigh Valley's largest employer. The Lehigh Valley's top five employers are: 1.) Lehigh Valley Hospital, 2.) St. Luke's Hospital (in Bethlehem), 3.) Air Products & Chemicals (in Allentown), 4.) the Federal Government, and 5.) PPL Corporation (in Allentown).

And I haven't found it yet, but isn't there another town somewhere in that region similar to Allentown/Bethlehem who had this HUGE abandoned brownfield bought then had LOADS of windmills constructed for wind power?  That's gotta be a positive comeback for that place, too.  And it's a win-win for that community, its economy, and the environment to boot.

By no means am I trying to pick a fight with you and Lunican, Stephan - that's RSG's job.   But, based just on this, it would seem to me that it can happen.  Cities can adapt and prosper again.

[RiversideGator]

Doctor:  My point was that the poor governance in Detroit is exactly why houses sell for $1 now there.  No one wants to live in this city which is totally controlled by Democrats and has been for 40+ years.  It is the logical conclusion of liberalism - a dangerous, (near) shanty town hostile to business (as is the state at large) and hemorrhaging business and people.  Coming soon to a city near you...

Now, you can state also that Detroit has been hit by loss of auto jobs and it has.  It also had bad weather.  However, other cities have been hit by a loss of industry and bad weather and have managed to survive and even prosper.

name the ones who are presently prospering, smart guy.

Off the top of my head, New York, Pittsburgh and Columbus, OH have lost industry to some extent but are still prospering.  I am sure there are others also.

[Doctor_K]

sadly for River, both towns are liberal, environmentalist and Democrat strongholds.

So, what you're saying is, there's still hope for Detroit et al?  I hope you're right.  But the fact remains, the Democrats have had solid control over that city for 40-some-odd years.  How it is now is at least partially a result of its elected leadership (come to think of it, it's the same story here too).  It's still got a LONG way to go from its current sad state.

And none of us are yet back on the topic of cheap-arse housing in Detroit.  LoL!

[civil42806]

If you find the article discussing the 1$ house, you'll find that it has been completely stripped bare. Siding removed, all the plumbing, windows, electrical wiring, basically your buying the property.  And since the detroit area is so depressed, the property itself is basically worthless. 

[RiversideGator]

Thanks, Doctor K.

sadly for River, both towns are liberal, environmentalist and Democrat strongholds.

Yes, perhaps if Detroiters would just be more environmentally conscious they would find a way out of this morass.   

[RiversideGator]

I never said that NAFTA or other factors did not contribute to the decline of Detroit.  I stated that the liberals in charge did nothing to stop it and in fact made things worse.  And, I did name cities which have withstood better similar problems.  Go back and reread the posts, comrade.   

[RiversideGator]

And you are a neutered French poodle.   

[civil42806]

good god people grow the hell up