  Southwestmap Member Username: Southwestmap Post Number: 978 Registered: 01-2005 |
Today's Freep has an article on picking over Detroit's real estate that literally sickens me: http://www.freep.com/apps/pbcs .dll/article?AID=/20080331/BUS INESS06/803310318 I have a home in SW Detroit and right next to me is a (once beautiful) home that is going into foreclosure: divorce and death have made the house not attractive to its recent buyers and they have walked away - leaving the back door broken and open. Overall though, the house is in rentable shape by Detroit standards. I am ill thinking of a buyer from Hong Kong putting tenants in that house, 10 feet from mine. The freep sounds sanguine about the investors. I am not at all sanguine. | ||
Focusonthed Member Username: Focusonthed Post Number: 1763 Registered: 02-2006 |
Jesus, what is Detroit's issue with renters? If other cities had this renter stigma, where would any single people under 30 live? | ||
7051 Member Username: 7051 Post Number: 90 Registered: 02-2006 |
Yeah....and where would all the poor people live, and where would all the drug dealers live and where would all the losers live... All renters are not saints. | ||
Mwilbert Member Username: Mwilbert Post Number: 159 Registered: 11-2007 |
Isn't it better to have someone having an interest in it than it just being abandoned? I can see why people would rather have owners than renters as neighbors as a general thing, but occupied by a rent-paying tenant is better than empty, I would think. Slumlords, maybe. But what is the alternative? Squatters? Scrappers? | ||
Iheartthed Member Username: Iheartthed Post Number: 2929 Registered: 04-2006 |
quote: Other cities regulate property owners a lot better than Detroit. | ||
Mommabird Member Username: Mommabird Post Number: 4 Registered: 03-2008 |
All renters aren't sinners either. I rent- because I don't like fixing things and my husband and I would like to spend our non-working time off doing stuff with our kids, rather than maintaining a house, so we rent. And I assure you, we aren't dealers or users OR poor. We're just busy, and we travel alot. Homeownership is a racket anyway. Nobody really owns a piece of land. The state can always take it from you. But any landlord who lives out of state is bad news. What is out of sight is out of mind. | ||
Southwestmap Member Username: Southwestmap Post Number: 980 Registered: 01-2005 |
I think rent-paying tenants are a good thing for the landlord, but my experience of renters as neighbors has been largely bad: loud, gang-ridden, messy, careless. When the owner is an out-of State company, how careful can we predict they will be, how caring of the neighborhood? Often the end result, after a few years of tenants issues is a wave of squatters and scrappers - at least in the City. Few families end up buying a house that has been trashed by renters. So the trajectory is usually downward for such a property. I'm sick that its happening on my street. | ||
Danny Member Username: Danny Post Number: 7249 Registered: 02-2004 |
Slumlords in Detroit's ghettohoods are in the rip-off business. Con the poor/low-income family into renting a run down shack, keep the utilities broken, collect the rent money and they on their way to nice warm cozy mansion the suburbs. | ||
Diehard Member Username: Diehard Post Number: 439 Registered: 03-2005 |
At least the people in the article are fixing the place up (well, at least one of them). You have to wonder how they plan to manage all those places from out of state, though. How could they possibly take care of repairs, disputes, and the occasional loser who decides it's a good place to strip stolen cars and breed pit bulls? | ||
Mwilbert Member Username: Mwilbert Post Number: 161 Registered: 11-2007 |
Intelligent people who are out-of-state landlords hire someone local to manage the property. I don't know what these people are doing. | ||
Johnlodge Member Username: Johnlodge Post Number: 5880 Registered: 10-2003 |
Intelligent people = 10% of the real estate Investors today. |
