Never owned a home? You can own a home in Detroit for $6300

[Sam Spade]

Is the program such where you would then receive a $1,000 credit from the government to purchase the requisite firearms, ammo and shoe polish needed to survive in such a place?

[Sam Spade]

Is the program such where you would then receive a $1,000 credit from the government to purchase the requisite firearms, ammo and shoe polish needed to survive in such a place?

Ironically, I live in a neighborhood where housing values are increasing. 

From what to what - honest question...

FYI, the Philly area never had the same amount of bubble as other places did.

[Sam Spade]

Is the program such where you would then receive a $1,000 credit from the government to purchase the requisite firearms, ammo and shoe polish needed to survive in such a place?

Not to mention the $30,000 in repairs necessary to keep the roof from caving in on you during your sleep.

But yeah, lots of people are going to get filthy rich buying up these places, flipping them with illegal Mexican labor, and selling them for a massive profit when the economy turns around 2-3 years from now.

You can go on ahead and do that Nym, if you want to.  I won't stop you (or get involved). 

Personally, I wouldn't touch any housing at this moment without an assured profit if I sold tomorrow and did nothing.

And yes, since JJ's situation involves a university getting in on the mix - there is probably a slight appreciation.  Some deals could be done there now (even though most of the good ones were probably done before construction actually began).

[Sam Spade]

To Sam Spade.  You're partially right.  Some places double or tripled since 2000 and those areas are starting to come down.  Philly and NYC have too many submarkets to give a broad generalization of the market as a whole.     

Of course.  My point was more general.  In that Philly prices never moved as much as the DC market or NYC market.  Of course, they started off lower anyways.

[Sam Spade]

To Sam Spade.  You're partially right.  Some places double or tripled since 2000 and those areas are starting to come down.  Philly and NYC have too many submarkets to give a broad generalization of the market as a whole.     

Of course.  My point was more general.  In that Philly prices never moved as much as the DC market or NYC market.  Of course, they started off lower anyways.

Local realtors annoy the crap out of me when they talk like that-  "Oh, we're not one of those areas" yet I'm seeing people locally if they sold today they'd lose money.  Granted, we didn't go up as much as Phoenix, DC, or Miami, but we sure as hell went up to unaffordable levels and certainly increased more than a lot of the Midwest and South.  Education and health care is keeping our economy somewhat stable, but in a few areas I'm seeing some overvaluation.   

I didn't mean it in "that way", but you have a fair enough point.