In 1950 Detroit was 5th. largest city in the U.S., with 1,849,000 population. Today it has about 700,000.
Currently, over 400 homes are listed for sale there UNDER $ 5000.
Can you imagine that? berwynson
Quote from: berwynson on August 03, 2013, 10:12:06 PM
In 1950 Detroit was 5th. largest city in the U.S., with 1,849,000 population. Today it has about 700,000.
Currently, over 400 homes are listed for sale there UNDER $ 5000.
Can you imagine that? berwynson
Yes, just go to Englewood or the west side of Chicago.
There have been some cases in Berwyn in the last few years where a single family house sold for $20,000.
A couple houses sold on my block, one right next door, for low $30,000s. I'm so glad they were purchased by families and not investors. They fixed the houses up in no time, and are some of the nicest neighbors anyone can hope for. I would have been besides myself if investors bought them and rented to some ghetto trash.
The problem with Detroit was that it was a one trick pony. Once the auto industry left there was nothing in it's place to stop or slow down the decline.
Quote from: MC on August 05, 2013, 11:37:16 AM
The problem with Detroit was that it was a one trick pony. Once the auto industry left there was nothing in it's place to stop or slow down the decline.
That and the worst white flight in the history of white flight!
Quote from: B o n s t e r on August 05, 2013, 01:55:46 PM
Quote from: MC on August 05, 2013, 11:37:16 AM
The problem with Detroit was that it was a one trick pony. Once the auto industry left there was nothing in it's place to stop or slow down the decline.
That and the worst white flight in the history of white flight!
The auto industry played a very small part of it. After all Bin Laden and Al Qaeda are dead and G M is alive!!
But yet Detroit is bankrupt and embassys are closed and a there is a high terrorist alert.
Quote from: Ted on August 04, 2013, 06:59:05 AM
Quote from: berwynson on August 03, 2013, 10:12:06 PM
In 1950 Detroit was 5th. largest city in the U.S., with 1,849,000 population. Today it has about 700,000.
Currently, over 400 homes are listed for sale there UNDER $ 5000.
Can you imagine that? berwynson
Yes, just go to Englewood or the west side of Chicago.
There have been some cases in Berwyn in the last few years where a single family house sold for $20,000.
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Bungalows went for between 20 to 30 K when I left in 1972! berwynson
Quote from: MC on August 05, 2013, 11:37:16 AM
A couple houses sold on my block, one right next door, for low $30,000s. I'm so glad they were purchased by families and not investors. They fixed the houses up in no time, and are some of the nicest neighbors anyone can hope for. I would have been besides myself if investors bought them and rented to some ghetto trash.
The problem with Detroit was that it was a one trick pony. Once the auto industry left there was nothing in it's place to stop or slow down the decline.
Detroit was a big city. Important economically. Now defunct. Berwyn is a small city, always was, cannot be otherwise. Unless general interest in the small city is maintained at high level, living there will not be invitingly high. Today's national economy has contracted much like a large caterpiller does when probed and upset: it shortens and squirms. Property values notwithstanding, one cannot imagine Berwyn suffering a fate anywhere near equal to Detroit's. berwynson
Detroit got the way it is today by corruption over the years. Starting in the early 70's they had mayor after mayor that had their hands in the till and one even had family members running the various city departments with all their hands in the till. The city could no longer maintain itself and the downhill slide began. The city could no longer keep itself in repair.
Then not being a "right to work" state (recently changed) made it hard for employers. So they started to leave. And with no new industry wanting to come into Detroit it has managed to become what it is today.
What to do about Detroit? Probably level it and start all over again. It's beyond help.
Berwyn hopefully will never suffer a faith as Detroit,,sure we have foreclosures and some cheap ones.Houses where I live in Berwyn remain at a premium,especially to flippers.Home prices range from $225,000 to over$ 300,000,in other parts the price could be cheaper.If the homes are in need of repair then buyers can't get financing.
This must be the most spread-out thread in the whole damn forum! A few posts over 3 years? ??? berwynson
Please don't forget I was gone for a year and one half.
Sorry, guy! I did forget. My apologies. berwynson