detroit average home cost is only $18,000. everyone is leaving that area and are doing it very quickly. when will our towns cities be next?

Have you ever lived there? I spent a year and a half in a Detroit suburb. People aren't leaving Detroit for economic reasons alone. The city is very corrupt and violent crime is through the roof!

it's a buyer's market here (if that is what you are talking about)

Its already here...

yes i have lived there. its a violent city as are almost every larger cities.
not much of a point in what i said. just maybe that a large city is in severe crisis and it will soon begin a domino effect. its on its way everywhere as we speak. ohio and indiana will soon begin to drop in great numbers as michigan is.

dont bang that cranium against a wall. unless itas a per-faB WALL. THEN BANG AWAY

Lets see the forclosed homes are not selling even tho they are listed at %75 below what they sold for....Buyers market Even at those prices no one is buying ****....

I thought "buyer's market" means too many sellers and much fewer buyers, therefore sellers should compete for a buyer, making him the decision maker, therefore the market is his.

However, even though there a plenty homes for sell, like templter said, not much sales going on, which means that the people who are selling are still too greedy, and will not price low enough to compete successfully for that one buyer.

These sellers need to wait till prices fall even lower, may-be then they will be able/willing to suck up to their losses and compete for a buyer by dropping the prices and undercutting each other.

Personally, I can't wait. But I will not shop take over someone's stupidity and greed. I want the asset, the losses should be with the seller.

Still to greedy???? These are forcloused homes where they will take anything you offer. GREED??????? A home worth 100,000 BEFORE THE BIG BOOM!!!!!!! Cant sell for 25,000..........GREED? I bought mine for 80,000 in 1985 and work my ass of to pay it off early and now the one next to me cant sell for 25!!!!!!!!!

So what? That was your own fault, that you bought it. Turned out you have purchased an overpriced consumer item.

But then, you have been using it all this time, right? You expect it to worth as much as new, as if you never used it?

The "overpriced" is the fact. This is not my opinion. The price is determined by a free market. If at (as you say) 75% off all of these homes offered were all sold, then it said that 75% OFF happens to be the market price.

If they are having trouble to sell at this price, this may mean only one thing: that market thinks the price is too high, and therefore the house is overpriced.

Now, the greed.

I can touch with you on this, no problem. But let us define what is greed first. What is your definition of greed?

Detroit has been dying since 1968.

I am not sure how many posters here remember 1968. I was nine years old and I remember it well because people were scared.

Before 1968 we would take the train into Detroit, dressed in our best clothes on a Saturday to shop and eat or to go to a hockey game. It was an event the family looked forward to.

Then came the riots.

People never really went back like they had after that.

Detroit has been dying since 1968.

I am not sure how many posters here remember 1968. I was nine years old and I remember it well because people were scared.

Before 1968 we would take the train into Detroit, dressed in our best clothes on a Saturday to shop and eat or to go to a hockey game. It was an event the family looked forward to.

Then came the riots.

People never really went back like they had after that.

in Arlington, it's a buyer's market but the house are snatched up quick

this city is growing fast

Michigan has been in a recession, had the worst economy of any State, and has been loosing citizens since Granholm was elected.

Detroit has been sinking for the past 30 years, and if it was not for all the taxes paid by the rest of the State and sent to Detroit, the collapse would have happened much sooner.

Basically Detroit is the poster child for big government liberalism.

A small price for a trade union.

Thats so cheap it is almost free! Add a zero to that price and you will still be well short of affording even the most cheapest of properties in the cheapest of areas.

At some point it has got to be cheap enough for investers to want to step in and snatch up some of the properties. How much would the average person be paying in rent?

Hmm, rent?

may-be a $119.99 a month and a cut throat by a local gangster (former union member).

http://www.trulia.com/property/1074177974-20100-Ferguson-St-Detroit-MI-48235


3 bedroom 2 bath...listed at $15,000


ima renter, but i do pay attention to the houses around me. we have not seen this HUGE of a decrease in value in indy

A detached property of that size where i live would set you back over half a million, easily(dollars).