Re:The $3500 Shirt – A History Lesson in Economics
by segmondy on Saturday January 24, 2015 @07:10PM
(#8941567)
Yes you can, but you don't want to. You can afford $1 houses, come to Detroit. But no, you probably rather live in silicon valley or New York.
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Re:The $3500 Shirt – A History Lesson in Economics
by ctdonath on Saturday January 24, 2015 @08:17PM
(#8941717)
An amusing exercise is to visit http://zillow.com and search for properties <= $10000, $1000, $100, $10 & $1. You have to dig thru a lot of distractions, but in some large areas you can find some reasonable options (given circumstances).
Re:The $3500 Shirt – A History Lesson in Economics
by Kiro on Sunday January 25, 2015 @02:26AM
(#8942319)
I don't understand how a house can cost $1. What prevents me from buying 100 of $1 houses just for fun? Seems like a pretty decent investment if nothing else.
Re:The $3500 Shirt – A History Lesson in Economics
by pimlottc on Monday January 26, 2015 @04:27AM
(#8946161)
Other people have answered that question for you, but I'd also like to point out that a number of cities have had problems from far-off speculators buying up dirt cheap properties and then failing to maintain them or pay taxes. In one case, it may have contributed to a gas explosion in an abandoned house in Cleveland: http://www.ideastream.org/news/feature/long_distance_ownersh...
Re:The $3500 Shirt – A History Lesson in Economics
by brc on Sunday January 25, 2015 @07:49AM
(#8942796)
Some of them have local ordnances on them that requires money to be spent on fixing/securing.