Crowdfund Homes in Detroit?

[bbit]

It'd be like real-life Minecraft.

Build during the day, and seek shelter at night... rinse, repeat.

This ^^ . I would call this an "adventure" not "bring your family" to my house sort of stuff lol

[Phinnaeus Gage]

Was thinking the BTCitcoin community should snatch up some homes in Detroit after reading this article:

http://homes.yahoo.com/photos/yahoo-homes-of-the-week-homes-listed-for-less-than-5-000-slideshow/

Detroit metro home values are expected to rise 4.3 percent in the next 12 months — the current median home value is $89,600 compared with $161,100 for the U.S. — but more than 400 single-family homes are currently listed for less than $5,000.

Could use BitcoinStarter to purchase a few with tier rewards being whatever we want to come up with as a community.  Anyone think its a good idea??

Yet to read the rest of this thread, but many could be purchased for only a dollar. I came really close to purchasing several in the $100 range, but put that endeavor on hold.

[Phinnaeus Gage]

For those talking about repurposing large parts of the city for farming etc., you're right there is something to that. People should check out some guys actually doing it:

http://theurbanfarmingguys.com/about (with video)

We are the seed that died and went into the ground.  We have purposefully relocated our homes into one of the most blighted and dangerous zipcodes in the U.S. 64127, Lykins Neighborhood, Kansas City to put down our stake for the youth and the poor and for the next generation. What is going to happen to us … who knows? We are a band of pioneers.  We don’t claim this is good idea…. it is our lives.  It runs in our blood… to rebuild the ancient walls and cultivate the life of the inner-city, here in the land where the Police helicopter is the favorite bird, and neighborhood meetings hold stories of wild drama, where dropping crime stats are our touchdown cheer.

IMO these kinds of small start over communities are ideal places to integrate Bitcoin and bootstrap strong local economies.

Thanks for that link, bud. I wonder if they could use an endowment from Bitcoin 100?

[Phinnaeus Gage]

Is this house seriously on sale for $70?

http://www.zillow.com/homedetails/13545-Fleming-St-Detroit-MI-48212/88763714_zpid/

Yes, amazing really.

Before you buy it, make sure you check it out thoroughly. Nobody slashes the price of a house by 30% unless there is something wrong with it. If it wasn't slashed, I would have considered getting a 30 year mortgage to finance the $100 home. But at a 30% deduction, I'm now concerned that a banker wouldn't touch it even if I paid 50% down.

[Gabi]

Detroit today looks like when a totally newbie start playing Simcity and does all sort of wrong things 

[Damnsammit]

Detroit today looks like when a totally newbie start playing Simcity and does all sort of wrong things 

LOL!

I was thinking the same thing a few nights ago when I was scoping out some of the homes on Google maps.

[lambo]

take it from someone who lives in Detroit - stay as far away from the D as possible. there's no good reason to invest a penny, not to mention a second of your time. It's a literal dump and will be for a very long time. It also has the highest murder rate in the country

[vokain]

i'd laugh at this, but it's actually just sad

Report: Nearly Half Of Detroiters Can’t Read

[Damnsammit]

take it from someone who lives in Detroit - stay as far away from the D as possible. there's no good reason to invest a penny, not to mention a second of your time. It's a literal dump and will be for a very long time. It also has the highest murder rate in the country

Where in Detroit do you live?

I have family in the suburbs and it's not that bad... they just say stay away from downtown.

I think a lot of people don't really understand how LARGE Detroit really is...

[vokain]

the point is, there's so MANY better places to live in this world.....life is too short not to live in a place you want to live

[atomium]

really interesting investment opportunity there has to come a point where Detroit will come back to life

[Varicon]

If you have a big plan Detroit could be big money, but looking to buy a $10 house and waiting for someone else to revive Detroit is very risky.

[cryptoanarchist]

Detroit is actually ahead of the rest of the country. It was the first city in the country to host large scale production manufacturing. On the downside, it's been a leader in welfare and socialism the last 50 years, which is why it is collapsing today. The rest of the country (and world) isn't that far behind.

If you want to see the future of USA, take a good look at Detroit. That's what the inevitable result of a nanny state looks like.

The good news is, now is the opportunity to build the right way without government interference. Seems a lot of people have their heads in the right place there:

http://www.policymic.com/articles/44725/this-is-what-budget-cuts-have-done-to-detroit-and-it-s-freaking-awesome
http://www.copblock.org/13054/frustrated-detroit-residents-compete-with-police/

Check out the video on here:
http://libertycrier.com/police-department-in-detroit-stops-responding-to-911-calls-private-firm-fills-the-gap/

Can you think of any government police chiefs who talk like this? TMC might not be everything agorists want, but they seem like a huge step in the right direction to me.

[franky1]

just be careful with all of these dirt cheap housing. alot of them come with clauses.

in the UK there were many houses going for 50p (75c). and here were the list of clauses.

1. you are over 18 in full time work.
2. agree to a local government loan of £50k (£75k) to cover restoration costs.
3. all restorations have to be complete and to minimal safe living standards within a 3-6 month period.
4. you have to live in the residence for atleast 5 years before selling.

this ended up as not being a 50p house but after loan interest a £60,000 ($90,000) house.

so definetly look at the fine print.

alot of people thought they could buy it cheap just for land value, bulldoze the house and sell the land or change the purpose of the land from residential to commercial. which they found out later they could not.

[Damnsammit]

Yeah, I think a lot of these have past due utilities and taxes that the buyers will be eligible for, and the residential to commercial is probably valid concern, too.  Zoning laws are a bitch.

But, for the most part these houses are legitimately for sale.  I have about 40 relatives in the suburbs of Detroit and every one of them has said they wouldn't even drive down the majority of those streets if they could avoid it.  One of them is a former Army MP

I'm still going to look in Warren and Sterling Heights.  I gotta get to a colder climate.  I love Texas, but these Summers make me want to kill people.  I swear the summer I spent in Iraq wasn't as bad as this... too humid here.

[herzmeister]

Apparently there are some anarchist / agorist initiatives in Detroit now.

http://thestateweekly.com/with-detroits-bankruptcy-anarchists-have-begun-project-free-detroit-starting-a-community-2/

Time for Bitcoin?

[btcinstant]

Apparently there are some anarchist / agorist initiatives in Detroit now.

http://thestateweekly.com/with-detroits-bankruptcy-anarchists-have-begun-project-free-detroit-starting-a-community-2/

Time for Bitcoin?

+ 1

[Phinnaeus Gage]

i'd laugh at this, but it's actually just sad

Report: Nearly Half Of Detroiters Can’t Read

Relatives of BFL investors?

it say no refuns!
they a put that always in them faq thing.
so ok?
yep! my man Josh say it'll be okay.
I'm in!
me to!
and me!
...
got one of them email from that butterfly place. can somes body reads it to me?
we's okay! it form letter. let's smoke some mo shit!

[Bitcoinpro]

crowd funded homes in detroit, that is ponzi real estate delusion at its finest