Depression hits Detroit: Avg home price $18,513

[rrl308]

Depression Hits Detroit: Average home price $18,513 - Unemployment rate 21%

Tribble Ad Agency
Tuesday, Dec 23, 2008

The Great Depression has reached Detroit. The average price of a home is now $18,513 and unemployment has reached 21%, and it’s expected to get worse. Detroit is facing a crisis of epic proportions that officially puts Detroit statistically (and real term) on par with the great depression. Many readers of Tribble Ad Agency are advertising centric.. and due to the rash of layoffs within all Detroit Advertising firms has put the city on the map for the wrong reasons.

It has become the center of all that is wrong with America… and nothing of what is right.

For example, the crime rate has fallen…. because of lack of targets within the city. Meaning there is nothing left to steal. In fact, even the criminals don’t want to leave jail.

Heard confirmed that some offenders, notably those without homes of their own, were now expressing reluctance to leave jail when their sentences were done.

Home values have plummeted to levels not seen in 1/2 a century… and the 21% unemployment has in some cases been projected to double within 12 months if the auto industry totally collapses.

To make matters even worse, Detroit has superseded New Orleans as the “worst city” in America…. but New Orleans had a Hurricane they could assign blame to… Detroit has no such natural disaster crutch.

“It’s a depression — not a recession,” McDuell said, with the authority of someone who has lived through both. “It will get worse before it gets better.”

It’s a man-made disaster.

Regarding a local food bank in Detroit that has seen record numbers of individuals entering the system:

“Many people are first-timers — they have no idea how to navigate the system, how to qualify for food stamps,” Wells said. “Last year, some were donors — now they’re clients.”

In short, last year they donated money into the system… now they are feeding from it because they themselves are in hard financial times.

Detroit needs a miracle, the chances of it showing a resurgence is slim to none in the current economic outlook.

http://www.infowars.com/?p=6774

[Mr. Kotter]

You ever been to Detroit? Who in there right mind would want to LIVE in Detroit? Unless you have a death wish...

:shrug:

Some of the suburbs seem liveable, but Detroit? :shake:

[banyon]

You ever been to Detroit? Who in there right mind would want to LIVE in Detroit? Unless you have a death wish...

:shrug:

Some of the suburbs seem liveable, but Detroit? :shake:

i love how when they made Robocop as some anarchic-bleak future, they didn't do any background work except to go outdoors in Detroit.

Still, $18k is pretty ridiculously low as an avg.

[jAZ]

Vacation Home!

[frazod]

i love how when they made Robocop as some anarchic-bleak future, they didn't do any background work except to go outdoors in Detroit.

Still, $18k is pretty ridiculously low as an avg.

Most of us probably paid more than that for our cars. :shake:

[Duck Dog]

I can hardly feel sorry for a city that voted for Kwame Malik Kilpatrick. The city has a deficit of $300 mil.

[triple]

who runs the city and state?

[Joe Seahawk]

wtf? 2$ mortgage.. Thats half of one of my tivo subscriptions

http://detroit.2.homescape.com/SCS/listing_details.jsp?affiliate_name=detroit&calling_page=listing_result_list&listing_result_page=listing_result_list&filter_max_price=10000&page_num=41&search_by_type=resale_mls,resale_class,resale,new_const,new_class,new_mls,new_ecom_agent,new_ecom_br oker,new_ecom_builder,new_ecom_owner,resale_ecom_agent,resale_ecom_broker,resale_ecom_builder,resale _ecom_owner&tab_num=1&display_default_state_id=55259&community_sort_id=1230150945909&geo_area_id=55261&filter_product_id=41238526

[Garcia Bronco]

I can hardly feel sorry for a city that voted for Kwame Malik Kilpatrick. The city has a deficit of $300 mil.

OMG. I looked him up. Unreal

["Bob" Dobbs]

wtf? 2$ mortgage.. Thats half of one of my tivo subscriptions

http://detroit.2.homescape.com/SCS/listing_details.jsp?affiliate_name=detroit&calling_page=listing_result_list&listing_result_page=listing_result_list&filter_max_price=10000&page_num=41&search_by_type=resale_mls,resale_class,resale,new_const,new_class,new_mls,new_ecom_agent,new_ecom_br oker,new_ecom_builder,new_ecom_owner,resale_ecom_agent,resale_ecom_broker,resale_ecom_builder,resale _ecom_owner&tab_num=1&display_default_state_id=55259&community_sort_id=1230150945909&geo_area_id=55261&filter_product_id=41238526Holy shit. I looked at some of the home prices at that site. Houses as low as $99! Unbelievable.

[SHTSPRAYER]

who runs the city and state?


:hmmm:

[ClevelandBronco]

Most of us probably paid more than that for our cars. :shake:

The advantage of buying the car is that you can quickly and easily get it the hell out of Detroit.

BTW: Doesn't "Los Angeles Lions" kind of trip off the tongue?

[bango]

Most of us probably paid more than that for our cars. :shake:

Almost

[bango]

The advantage of buying the car is that you can quickly and easily get it the hell out of Detroit.

BTW: Doesn't "Los Angeles Lions" kind of trip off the tongue?

I would say that Vegas gets a team before LA does. It would be more like the Las Vegas Jaguars. If LA did get a team to move there then Vegas would become the new build us a stadium or we are relocating there city.

[HMc]

Holy shit. I looked at some of the home prices at that site. Houses as low as $99! Unbelievable.

Or even $1.

http://digg.com/business_finance/Foreclosure_Effect_House_in_Detroit_Listed_and_Sold_for_1

according to comments I've read on various articles, there's a ton of property in Detroit that the City will sell you for a buck if you promise to clean it up a bit.

[cdcox]

Can we give it to Canada?

[ClevelandBronco]

Can we give it to Canada?

Only like somebody "gives" somebody else a sexually transmitted disease.

[BWillie007]

Jackpot. I should buy 3 of these. The US government and Barack Obama will not let Detroit go to the shitter. No way.

[Saggysack]

Or even $1.

http://digg.com/business_finance/Foreclosure_Effect_House_in_Detroit_Listed_and_Sold_for_1

according to comments I've read on various articles, there's a ton of property in Detroit that the City will sell you for a buck if you promise to clean it up a bit.

Uh, cleaning those up would put the house just under the beauty of a crack house. You would have to pay the unpaid bills as well.

Here is a slice of heaven for you.
http://www.realtor.com/search/listingdetail.aspx?gate=msn&source=a2mszh1t042&fhcnt=18&loc=Detroit+%2c+MI&usrloc=Detroit+%2c+MI&ml=8&mnp=1&mxp=1&typ=3F&sid=a622bf28f2a744cda2b66ba6209c37d2&lid=1104272609&lsn=3&srcnt=5

[Calcountry]

How long ago, did these phuggers elect all Democrats to everything?

California is next. We can't even balance our budget, yet we are going to make an impact on global warming. lmao.

[badmajama]

Same way as L.A. or any city that has been in a similar similar situation. They let crime thrive, which brings down property values. Rich people come in buy the houses dirt cheap which then the former house owners move to a side of town where they can get a house and keep half the money from the first house. The rich then buy and flip those houses to rise property value which is where its unaffordable to any who moved out prior to the renovations. These house/properties are only later to be sold at astronomical prices compared to what they were bought at keeping the poor at bay.

[Calcountry]

Same way as L.A. or any city that has been in a similar similar situation. They let crime thrive, which brings down property values. Rich people come in buy the houses dirt cheap which then the former house owners move to a side of town where they can get a house and keep half the money from the first house. The rich then buy and flip those houses to rise property value which is where its unaffordable to any who moved out prior to the renovations. These house/properties are only later to be sold at astronomical prices compared to what they were bought at keeping the poor at bay.Huh, maybe if it were english I would understand WTF you were saying?

Oh I get it, they keep the poor in the Bay Area, yes?

[ClevelandBronco]

Huh, maybe if it were english I would understand WTF you were saying?

Oh I get it, they keep the poor in the Bay Area, yes?

It's this.

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/r2ECcFN8uqg&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/r2ECcFN8uqg&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>

[badmajama]

Huh, maybe if it were english I would understand WTF you were saying?

Oh I get it, they keep the poor in the Bay Area, yes?

sorry I was on grandpas cough medicine when I typed that. My explanation was that the rich buy out the poor people for their $20,000 house and over time when crime has disappeared in a once crime stricken community then that $20,000 house has now turned into $300,000 and the poor folks that took the bait are now stuck in the ghetto or at bay from the better neighbor hoods and its almost impossible to get out because its too expensive to live in the once affordable areas.

[badmajama]

It's this.

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/r2ECcFN8uqg&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/r2ECcFN8uqg&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>

that is what I'm sayin! thanks! I forgot all about that part.

[Joe Seahawk]

sorry I was on grandpas cough medicine when I typed that. My explanation was that the rich buy out the poor people for their $20,000 house and over time when crime has disappeared in a once crime stricken community then that $20,000 house has now turned into $300,000 and the poor folks that took the bait are now stuck in the ghetto or at bay from the better neighbor hoods and its almost impossible to get out because its too expensive to live in the once affordable areas.

So "rich" people buy up the poor peoples houses and cause the crime to go down, and property values to go up.. We need some more rich people IMO.. Hard work makes you "rich" eventually..

[chiefqueen]

I would say that Vegas gets a team before LA does. It would be more like the Las Vegas Jaguars. If LA did get a team to move there then Vegas would become the new build us a stadium or we are relocating there city.

Las Vegas will NEVER get a team because of the wagering issue.

[HonestChieffan]

Detroit has been a huge slum for years.

[badmajama]

So "rich" people buy up the poor peoples houses and cause the crime to go down, and property values to go up.. We need some more rich people IMO.. Hard work makes you "rich" eventually..

did you want me to say middle class? lol I'm just saying it like it is. There's rich and poor. The people who have the money will buy out the people who don't. Its not as easy as you think with convicted felons finding jobs. Their pay is cut and trust is compromised. Who wants a job like that? I feel bad that this pattern happens all over the USA. Its sad and I hate to be the one with bad news, but its really hard to deny what I stated. I'm not saying all the poor being bought out are felons, some are some are poor because of being convicted of a crime. I believe hard work does bring out the best in others and yes brings a quality in life no matter the wealth class. Priorities and sacrifices are different with smaller income.

[KC Jones]

So, I can't find anything legitimate that indicates $18k is the real median price of homes in Detroit or that unemployment is at 20%. All the sources I can find indicate it's around $78K and 10% respectively. The exception is some blog sites and others that are carrying this "article" verbatim. However there are no sources listed for any of this information. All they have are some anonymous quotes about people wanting to stay in jail, and they partially site someone named "McDuell" and "Wells" without ever giving either a first name or any sort of indicator who they are or why we should care what they say. The originating site for this "article" is the "Tribble Ad Agency" website which claims it is a parody site.

Do you people really buy this shit?

[banyon]

So, I can't find anything legitimate that indicates $18k is the real median price of homes in Detroit or that unemployment is at 20%. All the sources I can find indicate it's around $78K and 10% respectively. The exception is some blog sites and others that are carrying this "article" verbatim. However there are no sources listed for any of this information. All they have are some anonymous quotes about people wanting to stay in jail, and they partially site someone named "McDuell" and "Wells" without ever giving either a first name or any sort of indicator who they are or why we should care what they say. The originating site for this "article" is the "Tribble Ad Agency" website which claims it is a parody site.

Do you people really buy this shit?

Are you disputing the credibility of "infowars.com"?