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August 10, 2011

We Had To Destroy The Village In Order To Save It

I doubt that "fair market value" [for the houses] in this case with be the actual market value, which is, of course, not zero.
Hold on there, you veritable Warren Buffett you; it's not more than zero, it's less than zero. The bank would have to pay you to take it. A lot. Detroit tried paying people to take a house. They've given up and brought in the dozers, too. There is only one building in any of these benighted cities that needs demolition, and that's city hall. But they're angling to have that be the only building left. -- Sippican Cottage: We Had To Destroy The Village In Order To Save It

Posted by Vanderleun at August 10, 2011 11:53 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

If you like Detroit you will love the future.

Posted by: Scott M at August 11, 2011 3:11 AM

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