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>there may be big taxes, unpaid utility bills, etc, encumbering the property The reason no one buys is actually a lot simpler than that, if you buy, you have t
by bilbo0s 7y ago
>there may be big taxes, unpaid utility bills, etc, encumbering the property
The reason no one buys is actually a lot simpler than that, if you buy, you have to bring the place up to code. Further, the city watches like a hawk to make sure no one games the system or takes advantage of the poor people living there. So in short, the real price is nowhere even close to the USD1000 that you heard about on the news.
These guys got some exemptions from rules because: "agriculture". Most people would not be getting that exemption. It's just too much work and you could never change and say, "Oh, I want to build a building there now!"
- nitrogen 7y agoCan one buy multiple properties, combine them, and build a subdivision or apartment community with more modern designs and materials? I mean, if Detroit wants to save Detroit, seems like that would be better than letting houses rot.
- bilbo0s 7y agoWho would you sell these homes to? It's one thing to renovate one home in squatter and abandoned zones for yourself. Another thing entirely to bank on entire subdivisions of people wanting to move into such an area. Who's going to buy the home you build next to the squatters? And keep in mind, if no one buys and moves in, you're still liable for upkeep on each and every one of the lots. For as long as it takes to sell. Which may never actually happen.
- nitrogen 7y agoIf you have enough consolidated land, rezoned, you can build a community with commercial, retail, and residential integrated. I'm imagining enough that squatted buildings are on opposite sides of the street from the new development and/or there can be a buffer.