This page has been archived and commenting is disabled.
Location, location, location...
h/t @RudyHavenstein
- advertisements -
Contact Information:
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Suggested Reading:
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure. Here's our Cookie Policy.
I don't see gold.
Was taken out of the basement before foreclosure. Now it's in safe hands. Where? No one knows because it's a barbarous relic that Buffet and Munger can't lever, so let's just leave it at that.
If Buffett is attacking it he is probably accumulating it.
In each house you can find at least one economist smoking crack
The Gold was moved to an HSBC vault in London. No, wait......
In that picture it represents the missing foundation.
Should have been three brick brick outhouses, but close.
Not Unlike Detroit...
http://www.goobingdetroit.com/
http://www.goobingdetroit.com/archive#_=_
Because gold is a castle in the wildnerness with an armed security force and a farm!
Its in a different zip code
http://www.wallpapersgalaxy.com/wp-content/uploads/2012/07/Lamborghini2-...
I dont see what the fuck the point of this article was... the dollar is strong against all currencies right now... does that mean you still get a shitty house? Retarded, how about using some logic
I guess one could make a anecdote about a bad foundation or something, but what would be the Point?
The Ukrainian Hryvnia and Venezuelan Bolivar are clear around the corner, but I wouldn't suggest going there its a real bad neighborhood. Even Zimbabwe moved out of there.
Different neighborhood
It's in the teef of the guys who are probably inside all three of those houses ripping out all of the the copper pipes for scrap money. You'll only see it if they smile.
I don't see the ruble.
Whoa - mine is the one with the BBQ in the back and it's not all that bad. It just doesn't photo well
Curb appeal.
Yep,
http://www.bostonglobe.com/metro/2015/03/04/partial-roof-collapse-baysid...
And if that were San Fran those lovely homes would be worth about $2 million each.
Keep dreamin, you'll never get in for 2.
Detroit.
I'm thinking Mapleridge, pretty close to the corner of Gratiot Avenue.
I'm thinking 6 mile and Livernois Maybe just off Woodward and 7 Mile
I use to live at 7 mile and Van Dyke as a kid....
UDHS
Chalmers/Kercheval area. Dead.
Ulysses S. Grant elementary
My grand mother was on 3 mile drive. I grew up at 7 and mack.
Wow [reading all the above] - this world sure is a small one
Detroit was in the top 5 target list during the Cuban Missle crisis. It's' manufacturing capacity was feared. There was a lot of wealth there. That wasn't that long ago.
Those are some nice plywood windows.
Plywood windows are easier to clean - an advantage that increases value in the Bay Area.
Hard to break. Kruggybear would definitely not approve.
Back in Chicago, we used to refer to the boarded up windows in certain areas (guess which ones) as "ghetto glass". Nothing seems to have changed since then: 1960s.
Three thoughts:
1. Is is "constructive" to think of a currency as a "fixer upper"?
2. Perhaps Japan should consider transitioning from Abenomics to
eBay-nomics.
3. If I were a currency, I'm not sure I would want to be a member of any neighborhood that would have me as a member (apologies to Groucho).
GREAT FIXER UPPER FOR YOUNG COUPLE WHO DON’T MIND GOING INTO DEBT WAY OVER THEIR HEAD!
NO NEED TO BUY A DOG OR CAT, PETS AND RODENTS ARE INCLUDED AND COME WITH THE HOUSE!
In all seriousness, you drive 50 minutes in any direction away from new york city and everything starts to look like that.
Someone needs to buy all the houses 100+ miles out, bulldoze 70% of them and build 1 nice house for every 10 you turned into a parking lot, then after you get rid of all the section 8 tennants (push them farther north or something) , just shut their water off like in detroit till they move away (slight sarcasm). . . you can start to market the new construction as vacation homes "on the cheap".
You can buy an entire block in areas like that for around 20k depending how tired the land owner is with dealing with flee infested rent checks from the government. . .
The reason these areas dont get bought up and rehabilitated is because the yearly taxes are absurd.
If you own one of these properties you are gona get a govt check in the mail for rent (say like 500$ a month) if you are lucky, and then the same govt is going to charge you like 4 k a year in realestate taxes . . . so you endup dealing with bed bug infested apartments every month for 2000$ a year profit per unit (if you are lucky).
Most people hire a slum lord to manage all the properties ( shake people down for their section 8 checks). . . . because no one wants to visit / step into these areas. . . you would endup driving home worried about bringing bed bugs back with you.
The people that inhabit these locations are decimated financially there is no hope for those areas.
Good luck with that. You will be fighting the progressives and their SJW's the whole way.
If these idiotic democratic counties would just lower the real-estate taxes and de-regulate all the ports/ commercial spots . . . people would go there and start rebuilding these areas.
Drive to syracuse one day, on the high way you will just keep driving for miles and miles and right next to the high way the entire time you will see nothing but abandoned factories and ports. . . and then for miles in any direction section 8 farms. . .
Its fucking crazy, I went up there just looking for "investments" and at the end of it . . . it just . . . the taxes . . . fuck that . . . im not going to waste my time to rebuild a community and then get fucked with taxes by the same community im trying to save lol . . . fuck them . . . lower the taxes and give me a 20 year tax exemption for doing the community a service by taking these lands off their hands and rebuilding them . . . then maybe we can talk. . .
You go up there and you go to real-estate agents and all they can offer you is package deals "buy 5 houses get 1 free" lol . . . so stupid . . . because after taxes the govt rent checks aren't worth it you need like 30 homes rented out to 3 apartments each just to make it worth your time to rehab all this shit and then you have to deal with late/slow govt checks. . . and what if the govt goes broke in those areas??? all your lands will be worthless.
you have described virtually ALL of upstate NY
Don't get me wrong, there are "diamonds in the rough" upstate . . . but they are surrounded by an ocean of shit death trap investments, you have to be very careful.
Some places just aren't worth saving till something drastic changes there. . . you have to let townships fail completely so that they go on fire sales . . . so people with vision can go correct the mess and rebuild.
You mean the upstate where time not only stood still, but reversed? There was more happening 50 years ago up there. History itself is disappearing.
True. Detroit is one example. You can't sell a house there for $15,000. Now ask yourself why. The reason is simple. They never changed any of the laws and regulations that brought the place to the condition we now see. Those same lousy laws and rules and taxes await anyone who is stupid enough to come in and step in that big, stinking, steaming pile of "stuff".
The worst victims of the statist / fat cat policies are the people born into the inner city system. The same people who likely vote democrat anyways, are the same people paying the pensions. Somebody needs to teach them Austrian econ.
Try teaching them to read first. Or even to value learning. Come back to us in 100 years and let us know how your three graduates are faring.
I'm sorry. I disagree. It's worse than what you say. But I think you agree.
or bulldoze all but the historical and build new in close housing and reclaim 75% of the land for farming or nature reclamation
Guarantee rent check from the .gov for living quarters for their FSA private voting machines is easy money.
Besides, you ain't moving them out.
My weekly Alpo rations aren't getting any cheaper.
P.S. rotfp (patio) over that picture Tyler. Priceless
It is the system that has failed,in which the landlord as well as the tenant are victims and no further speculation will generate any better outcome.Whichever way you look at and pass the blame.Lowering taxes and generating homelessness does not rid us of it.
I like that antenna on the Euro home. Lends a nice touch.
We all recogognize the Detroit photo. They built 1/2 million just like these all over the city. Basements are part of the dead give away. My bet is some where south of 8-mile on the east side.
I don't see Janet baking cookies in the middle house.
Euro Dollar Yen
Detroit Detroit Detroit
And.. Where is gonna Yellen park her car? Its seems that the LOLlar is screwd .
Great PIX ...Begin to think that REAL ASSETS are not market prices of leveraged real assets particularly REAL ESTATES across the globe.
Plenty of time to enjoy the bonfires before you swoop down and treaure hunt.
The problem with this analogy is the houses are still standing.
But hey, its ZH, your quick-stop to DOOOOOOM (TM). (Timing optional)
More UN property for the world bank.
At least the neighbors are quiet
I dont see a few of Obama's sons extracting social justice from the US house.