Total vacant land in Detroit now occupies an area almost the size of Boston; No one wants it
Via Reuters
On the auction block in Detroit: almost 9,000 homes and lots in various states of abandonment and decay from the tidy owner-occupied to the burned-out shell claimed by squatters.
Taken together, the properties seized by tax collectors for arrears and put up for sale last week represented an area the size of New York's Central Park. Total vacant land in Detroit now occupies an area almost the size of Boston, according to a Detroit Free Press estimate.
The tax foreclosure auction by Wayne County authorities also stood as one of the most ambitious one-stop attempts to sell off urban property since the real-estate market collapse.
Despite a minimum bid of $500, less than a fifth of the Detroit land was sold after four days.
The county had no estimate of how much was raised by the auction, a second attempt to sell property that had failed to find buyers for the full amount of back taxes in September.
I live is Southern Ohio
and although our major city...Cincinnati and Dayton to the north are in decline...it does not seem as bad as Detroit. However, small towns between the bigger cities are becoming shantytowns. I believe this is just the beginning. I think it shall continue.
back taxes. hmmphhh. idiots
back taxes. hmmphhh.
idiots run governments. the "you owe us" mentality.
it's disgusting.
Next they will fence it off and make it a prison....
Then the president's plane will crash in it and they'll have to send in Snake Pliskin.
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
Shrink the borders of Detroit
and farm the perimeter of the city. I've posted this message before. It is very rich ancient lakebottom soil in SE Michigan. Why not?
Tempe Town Lake Was Surely a Mistake
Tempe Town Lake, it was surely a mistake,
A slice of Manhattan, financed with taxpayer pork,
Dollar signs in their eyes: “Real estate can only rise!”
Now we’ve got something out of Escape from New York.
Well-heeled prospective buyers, answering the shrill criers,
Came to see the view that the real estate agents did pump,
Now drunkards ignore the view; business they’ve come to do,
Hanging their butts off a 35-story ledge, they do take a dump.
A multi-million dollar penthouse! Now the owners grouse,
Beer bottles, cigarette butts and used condoms litter the floor,
Their condo is a playground for bums; for them, only crumbs.
Can’t the bank at least find the money to put a lock on the door?
Unable to pay the light bill, Scott Coles himself he did kill,
Most condos were only 600 square feet, but what a view!
300 thousand bones! Now the buildings are dark tombstones,
Monuments to the many investors the bankers did screw.
“It’s a steal!” the bankers holler, hoping for a sucker to collar,
Millions of dollars of cabinets were ruined by heat and erosion,
But it can still be salvaged; their investment is not yet ravaged,
Here’s a plan: the bankers can sell tickets to the implosion.
Note:
Tempe is a suburb of Phoenix and these are new buildings that are vacant, not old deteriorated ones, so our situation is not quite the same as Detroit.
I have more poetry about economics on my poetry page.
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Shaka, you so crazy! www.sniperflashcards.com
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Shaka, you so crazy! www.axiomaticeconomics.com