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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (4592)	3/3/2008 9:07:17 AM
From: RockyBalboa	Read Replies (2) \| Respond to of 71446

Real estate in detroit? Why? Isnt the city supposed to be turned into a ghost town, much like the abandoned cities during the gold rush?

To: Real Man who wrote (4592)	3/3/2008 10:07:22 AM
From: stan_hughes	Read Replies (1) \| Respond to of 71446

You buy a $100 house in Detroit and I will guarantee that you will never see a penny of revenue from it, but you WILL get stuck with the property taxes and the insurance liabilities and eventually the demolition costs while you wait 50 years for any urban renewal initiative to gain traction -- there is a reason why these POS properties are offered for sale at $100, i.e. the existing bagholders want off the above-noted hooks Oh, and did I mention the environmental clean-up costs? If you're looking for cheap accomodation, then at least pick someplace warm -- just wander around suburban Las Vegas or San Diego and pick out a vacant newly built 3000-square-footer and move in -- no one will notice you for 12-18 months until it goes REO