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Khal · Posted: Sat Mar 14, 2009 6:29 am Post subject: WAAAAAY OT: A house for a buck?!

If so, I have a Yank twenty dollar note that I didn't spend last time I was down there... I might come down and buy a few houses!!!

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'80 924 Turbo

haroldk · Joined: 24 Nov 2008 Posts: 171 Location: St Paul, MN, USA

It sure isn't the case in Minnesota. I've got to say the story seems a little fishy to me in general, really. Besides, if you've got a house that nobody wants, what are you going to do with it other than pay taxes and maintenance on it?

D Hook · Joined: 02 Nov 2002 Posts: 3158 Location: Omaha, NE

2Fast · Joined: 09 Dec 2007 Posts: 459 Location: Klamath Falls, OR

Khal

Joes924Racer · Posted: Sat Mar 14, 2009 6:30 pm Post subject:

Hey there was an article in the newspaper here about seems alot people from england for instance are getting in on it and buying them up.
Alot of the article was saying buy a house for the price of a new car as they are going anywhere from a buck to 20-30 grand. Amazing if you ask me.
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1979 porsche 924 Na
1980 porsche Turbo 931GT Replica
Have u ever driven a turbo.

D Hook · Joined: 02 Nov 2002 Posts: 3158 Location: Omaha, NE

It would be gated alright....just not the kind you're thinking of.

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'80 924 n/a SOLD

924RACR · Posted: Sat Mar 14, 2009 10:34 pm Post subject:

LOL... no, this is quite true. Housing market in the D is absolute garbage, and in the suburbs we live in, it's also quite bad... We're tens of thousands upside-down in our mortgage, as are many others... people are just walking away from junk mortgages to get the hell out of the economy.

While the US and world entered a recession last fall, MI's been in a recession since maybe 5 years ago, and is now in a full-blown depression. Nobody outside the area/industry really understands it, not really. Every couple of weeks we hear about more friends affected, most typically by job losses, though wage cuts and shutdowns come too... we've had all raises/promotions postponed (indefinitely, I'm sure) and are scheduled 10 days of shutdown/mandatory vacation - and our division is actually making money!!!

Just happy to have a job at this point...

On the plus side - there is a GREAT 924 community in the Detroit area, if you can steer clear of that one asshole...

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Vaughan Scott
Webmeister
'79 924 #77 SCCA H Prod racecar
'82 931 Plat. Silver
#25 Hidari Firefly P2 sports prototype

ideola · Joined: 01 Oct 2004 Posts: 15550 Location: Spring Lake MI

I think the $1 comment is a bet of over sensationalizing the situation. OTOH, If you have money, there are absolute deals to be had. I know of a couple of people who have purchased $400-$500K homes in very desirable suburban communities for ~$150K. There are SO many foreclosures on the market here, anyone trying to sell outright doesn't stand a chance because you're competing with homes that are selling for less than half of their assessed value.
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erstwhile owner of just about every 924 variant ever made

Joes924Racer · Posted: Sun Mar 15, 2009 3:54 am Post subject:

The housing market is close to that in the Las Vegas area
with homes selling to close to half of there assessed value and these are
homes that are new or built with in a few years.
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1979 porsche 924 Na
1980 porsche Turbo 931GT Replica
Have u ever driven a turbo.

D Hook · Joined: 02 Nov 2002 Posts: 3158 Location: Omaha, NE

http://www.youtube.com/watch?v=_TvgtGlcdTE&eurl=http://74.125.95.132/search?q=cache:QGZfqsGIwVcJ:astrology.yahoo.com/channel/parenting/detroit-city-council-president-&feature=player_embedded

And after that, they elected her president of the City council.

Seems the city of Detroit is getting the gov't they've chosen.

From a Rennlist poster:

Here's what's really killing Detroit.

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Nowhere is Michigan’s brain drain on greater display than in the Detroit City Council chambers.

My hopes for Detroit’s future faded as I watched the tape of last Tuesday’s council meeting, the one that considered the Cobo Center expansion deal.

It was a tragic circus, a festival of ignorance that confirmed the No. 1 obstacle to Detroit’s progress is the bargain basement leaders that city voters elect. The black nationalism that is now the dominant ideology of the council was on proud display, both at the table and in the audience.

Speakers advocating for the deal were taunted by the crowd and cut short by Council President Monica Conyers, who presided over the hearing like an angry bulldog; whites were advised by the citizens to, “Go home.”

Opponents were allowed to rant and ramble on uninterrupted about “those people” who want to steal Detroit’s assets and profit from the city’s labors.

A pitiful Teamster official who practically crawled to the table on his knees expressing profuse respect for this disrespectful body was battered by both the crowd and the council.

When he dared suggest that an improved Cobo Center would create more good-paying jobs for union workers, Conyers reminded him, “Those workers look like you; they don’t look like me.”

Desperate, he invoked President Barack Obama’s message of unity and was angrily warned, “Don’t yousay his name here.”

Sorry to be diss'n on Detroit but man,....that's one screwd up place.
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'80 924 n/a SOLD