Sunday, March 22, 2009 - 5:11 pm
It's cheaper to buy a house than to rent an apartment!
http://www.movoto.com/real-estate/homes-for-sale/CA/Riverside/4095-Heidi-Rd-202_ A09032219.htm
Sunday, March 22, 2009 - 5:55 pm
I got a house in LV,NA. for $33,400.56, It's a fixer but it's paid for.
Sunday, March 22, 2009 - 5:57 pm
20/20 had a piece Friday night on $500 and even a $100 house in Detroit MI.
Sunday, March 22, 2009 - 6:38 pm
Those buys are fantastic if you have employment in those areas... but it would be a heck of a commute to where there is employment!
I also think that you better not expect appreciation of your asset ... some of those markets may not recover before the Second Coming! (or the First Coming for those who don't accept Christ as the Savior).
Sunday, March 22, 2009 - 7:00 pm
Or Heat Death, for those not bothered by Gods.
Monday, March 23, 2009 - 2:08 pm
20/20 had a piece Friday night on $500 and even a $100 house in Detroit MI.
You would have to pay me $500 a day to live in Detroit. Been there 3 times on business trips and man what a dump.
Monday, March 23, 2009 - 2:42 pm
You would have to pay me $500 a day to live in Detroit. Been there 3 times on business trips and man what a dump.
There are parts of it that are nice, as in any major metro area.
But yeah. And I'm not sure $500 a day would be enough to get me to live there!!
Tuesday, March 24, 2009 - 1:48 pm
Yes, true, but affordability is an issue for many folks. some fantastic bargains here as well. The problem is these cheap houses are being purchased by out of state investors who turn them over to property management groups to rent out under govenment programs. In some cases the new owners rent them as long as they can, then abandon them. The only way this issue is solve is when these cheap homes are purchased by people who plan to live in them.
Many neighborhoods in bad areas across the country are rejuvenated that way. Of course, you need a core base of decent jobs to lure young professionals to spruce up the 'hood. Selling a block of cheap homes to marginal people doesn't solve the problem either. You still wind up with a dumpy neighborhood. an unfortunate side effect of rejuvenation is the loss of lower income housing for the "POOR" Was a big outcry in Seattle about tearing down the dives and building luxury condos. Solution? Send all those poor west coast people to Detroit! (facieteous comment)
