Comments on: Detroit House vs Parking Spot: Crazy Property Prices

By: Silicon Valley Blogger

Silicon Valley Blogger — Sat, 03 Sep 2011 18:48:01 +0000

Found this interesting site on Detroit. It shows you how Detroit has turned into ruins. Are you forward thinking enough to take the risk and purchase real estate there at a big bargain price? Check out this typical run-down school:

By: Bob

Bob — Tue, 14 Dec 2010 01:56:40 +0000

Nice analogy!

By: Michael

Michael — Sat, 09 Jan 2010 03:57:52 +0000

It’s tough to believe that someone would actually want to sell that parking spot. Looks like a great spot, what, with the brick and all, and $300,000 is a steal. $100 for a house, though? Insane… Psht who’s got $100 for a house?

Pardon my sarcasm.

By: Real Estate Rocks!

Real Estate Rocks! — Sun, 30 Aug 2009 03:25:16 +0000

People can make a killing on investing in parking lots. Now might be the best time to do exactly that!

By: mcalpine

mcalpine — Thu, 13 Aug 2009 19:04:08 +0000

The reason the guy was able to afford to spend 300k on a parking lot in the first place is because he was educated, which made him smart enough to know that investing in something with a potential high end return in the future is a lot smarter than paying some taxi driver to take you to work everyday with nothing in return. Go figure!

The $100 house is also another stupid investment. Where is the property value going to come from in the long term? Does he plan to inject a couple grand into the remodeling of the house then 5 years down the road sell it to the highest bidder? And knowing all along the soaring crime rates and abandoned homes in the area are the very reason the property value was driven down in the first place? Who would be dumb enough to pay anything over $100.

By: jessiev

jessiev — Thu, 13 Aug 2009 04:07:29 +0000

that is crazy. i wonder what the neighborhood looks like, though – for that $100 house.

By: San Diego Foreclosure Properties

San Diego Foreclosure Properties — Sat, 01 Aug 2009 22:43:49 +0000

I’m having a hard time understanding how parking spaces could sell at such a premium in Boston when homes are selling in Detroit at some of the lowest prices of all urban areas in the country. I suppose it comes down to the old rule of location, location, location.

By: Barcelona

Barcelona — Mon, 06 Jul 2009 09:17:34 +0000

Buying and Converting — This looks like a COOL IDEA!

By: Barcelona

Barcelona — Mon, 06 Jul 2009 09:17:05 +0000

Buying and Converting — This looks like a COOL IDEA!

By: Dubai Property

Dubai Property — Sun, 05 Jul 2009 09:56:31 +0000

What about the possibility of buying a house and convert it into a parking space? Is it possible?