Re:Average Rent in San Francisco Has Dropped $1k This Year
by throwaway0a5e on Monday December 28, 2020 @02:42PM
(#25562471)
I live in one of those sorts of cities. Detroit is their own doing because of local tax code. There's a decent amount of "there was a falling down commercial building here so we bulldozed it and then just let it sit" type of lots kicking around in other cities but the lots have still increased in value (i.e. inflation has happened) enough that mostly nobody is underwater and anyone looking to get out can do so without losing money.
Not true at all, look at Detroit, Gary, or any midwest "rust belt" town. Abandonded properties everywhere, can't find buyers even at tax sale prices.