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March 19, 2009
From the bottom, looking up
When things reach that stage when they really can't get any worse, they can start looking better. In the case of Detroit (a city most people have written off as hopeless), houses can be had for almost nothing. That's because the city is falling apart and city services are poor to nonexistent. So if you call the cops, they might not come at all. The schools are so bad that sending your kids to school in Detroit constitutes child abuse. But still, a house is a house. It's a roof over your head. Sure, you might need dogs, guns, and home schooling, but to be able to get your own house for nearly nothing has a certain irresistible appeal. (After all, considering how much it costs to build a house, Detroit houses are seriously undervalued.) Little wonder that artists from around the world are now discovering Detroit: ...northeast Detroit has virtues Carmel never had -- among them $100 houses, one of which is being purchased by two Chicago artists, Jon Brumit and Sarah Wagner.As to the locals, they don't seem too perturbed by the fact that outsiders are buying abandoned and worthless properties: Locals seem relieved that someone is buying abandoned properties. Of Cope and Reichert, who have made a point of getting to know families nearby, longtime resident Mohammed Mehid says, "They're good neighbors. One-hundred percent!"Well, why not? Just as when you reach the South Pole, all directions are North, when things are at absolute bottom, there isn't any way to go but up. (Of course, the existence of basically free houses makes me wonder about the phenomenon called "homelessness," but that's another issue.) posted by Eric on 03.19.09 at 09:57 AM
Comments
I like this idea, and hope these artists are joined by many more. I must say though, that it is hard for me to wrap my head around the fact that houses cost only $100. It must have cost more just to process the paperwork on this purchase. Penny · March 20, 2009 06:27 PM Post a comment
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I have to wonder what the property tax situation is. If a house is worth nothing then the real estate taxes normally would also be nothing.
Is there some sort of minimun to pay for school funding and retirement of municipal bonds?
Zero residential property value means an owner is far better off than a renter because the renters pay property taxes to their landlord who passes them along to the city or county.
The rent also includes funds for several business licences and income taxes the landload must pay.