fire sale in detroit
fire sale in detroit
http://news.yahoo.com/s/nm/20070319/ts_nm/usa_subprime_detroit_dc
Seems that real estate is really cheap in Detroit according to this article. You can buy houses for dozens of thousands or less. You might be the only white person for miles, however, and you might not have too many neighbors. Why is this this way? two reasons:
30 or so years ago there were race riots in the city of Detroit. After that, many folks moved out to the suburbs. The city itself has been declining ever since, as they say in the article.
What else? Anyone ever hear of “devil’s night”? Ever see the movie The Crow, in which the bad guys were going to burn a bunch of houses the night before Halloween? that wasn’t fiction because in the 80’s (when that story was written) the headlines on halloween morning was about how many houses burned.. only 100, maybe. This picture from google maps illustrates the result: