Many potential homeowners that Detroit desperately needs said they felt penalized by the auction process.
They mostly found themselves outbid by deeper-pocketed investors from California and New York who were in a race to claim the auction book's relatively few livable properties.
Dozens of potential bidders, mostly local residents, were turned away on the first day of the auction by deputies after they failed to meet the morning deadline for registration.
Ross Wallace, a lieutenant in the U.S. Army, turned in his check for $500 and waited on the auction floor in full dress uniform for a chance to buy a Detroit house on the cheap.
Wallace, 27, said he did not want to leave his fiancée and two children with a mortgage before shipping out to Iraq later this year.
"I still have student loans and I'm trying to be responsible. I don't want to leave debt," he said.
Wallace waited for the auction to roll around to Detroit's Boston-Edison district, a once stately area that was home to boxing legend Joe Louis and Motown founder Berry Gordy.
But he was quickly outbid. An unidentified investor at the front of the room who had scooped up several dozen properties took the home Wallace wanted for about $15,000.
"Why am I competing against a bank?" he said later. "It would be common sense to have a separate process for people who want to move back to the city or it's going to stay empty."
Quote by TriSec:
Morning, comrades!
After seeing the Detroit photos yesterday, I skimmed around some Real Estate sites out of morbid curiosity.
Very few homes are listed out there as "Single Family" homes...they're all being pitched as "Investment Opportunities".
The one that killed me was a 3 bedroom, 3 bath house of about 3900 square feet that I saw. For $50,000. Not a typo.
A similar house here in Waltham would be going for around $650,000.
Absolutely unbelieveable.
(And there were literally hundreds of listings for less than what I paid for my car, including a perfectly reasonable "starter" home for about $14k. But then it's Detroit; no work, and the schools suck.)
Nearly half of the adult population is functionally illiterate. Detroit fails to protect its citizens and their property rights. It was recently ranked the second most dangerous city in America, behind only Flint. No one says they wish to move to Detroit to send their kids to Detroit Public Schools.
Detroit has too much land area and infrastructure for its current population of 700,000. The city had about 1.9 million in 1950 and it no longer makes sense to have the geographic boundaries it once had.
The time has come to think outside the bun.
Suppose that portions of Detroit were simply sold to private developers to create private cities.
Well, in this case we're talking about a black city, a black city that's had a black political establishment. And this is now being directed--many people believe that because it has been framed in a racist manner, that somehow the city of Detroit had this coming for the mismanagement and corruption and so on.
Well, the underlying causes have really very little to do with corruption. Perhaps what was happening is that during corrupt practices of the prior mayor, for example, they were not looking at what was happening to the debt that was being accumulated with the banks, and the banks were very happy to do this. So I think the racism in it is that the city of Detroit and the residents are being blamed for a crisis that was generated by the banks.
The average annual pension payment for Detroit municipal retirees is about $19,000. Retired police officers and firefighters receive an average of $30,500. Top executives and chiefs can receive $100,000.
Police and firefighters don’t pay into the Social Security system, so they don’t receive Social Security benefits upon retiring.
Approximately one-fourth of employees of state and local government do not participate in Social Security. This includes most to substantially all public employees in Alaska, Colorado, Louisiana, Maine, Massachusetts, Nevada, and Ohio.
In addition, approximately two-thirds of public safety officers--firefighters and police officers--do not participate in Social Security. These workers are in the seven states listed above and many other states.
An estimated one-half of public school teachers do not participate in Social Security, including a majority to substantially all in California, Connecticut, Illinois, Kentucky, Missouri, and Texas.
Also, more than one-fourth, but less than one-half of public school teachers in Georgia and Rhode Island also do not participate in Social Security.
Both employers and employees who do not participate in Social Security do not pay the Social Security portion of the FICA tax, (6.2 percent of payroll each). Public pension benefits for non-Social Security-eligible employees usually are higher than those of other public employees, to compensate for the absence of Social Security benefits.
Non-participation in Social Security dates to the origins of the Old Age, Survivors, and Disability Insurance program in 1935, when coverage was limited to private sector workers due to constitutional concerns regarding the authority of the federal government to impose taxes on states and political subdivisions (see Section 218 agreements, below). These concerns were addressed in Social Security Amendments of 1950.
Quote by Mondobubba:
Why is this man a sworn law enforcement officer.
Quote by Mondobubba:Quote by TriSec:
Morning, comrades!
After seeing the Detroit photos yesterday, I skimmed around some Real Estate sites out of morbid curiosity.
Very few homes are listed out there as "Single Family" homes...they're all being pitched as "Investment Opportunities".
The one that killed me was a 3 bedroom, 3 bath house of about 3900 square feet that I saw. For $50,000. Not a typo.
A similar house here in Waltham would be going for around $650,000.
Absolutely unbelieveable.
(And there were literally hundreds of listings for less than what I paid for my car, including a perfectly reasonable "starter" home for about $14k. But then it's Detroit; no work, and the schools suck.)
Tri, there is plenty of work in Wayne county, just not in Detroit. It is all in the burbs.
Quote by Mondobubba:
Zimmerman is a hero story seems to be falling apart.
Quote by BobR:Quote by Mondobubba:Quote by TriSec:
Morning, comrades!
After seeing the Detroit photos yesterday, I skimmed around some Real Estate sites out of morbid curiosity.
Very few homes are listed out there as "Single Family" homes...they're all being pitched as "Investment Opportunities".
The one that killed me was a 3 bedroom, 3 bath house of about 3900 square feet that I saw. For $50,000. Not a typo.
A similar house here in Waltham would be going for around $650,000.
Absolutely unbelieveable.
(And there were literally hundreds of listings for less than what I paid for my car, including a perfectly reasonable "starter" home for about $14k. But then it's Detroit; no work, and the schools suck.)
Tri, there is plenty of work in Wayne county, just not in Detroit. It is all in the burbs.
Hey - I work from home. I could pay next to nothing in a mortgage payment, and bank most of my pay. Of course - it would mean living in what looks like a war zone.
Quote by TriSec:
I can work from home too, although I rarely do.
I'm fortunate that what I do in healthcare is a finite resource - there's actually very few of us out there that truly understand the ANSI 5010 format for claims and all the associated workflows.
With ICD-10 in the offing, I'm back in high demand; my inbox and my cellphone have been ringing with many contract offers.
(If I ever left ol' New England, I'd head for North Carolina. I really can't say why. Although I have had some nibbles from the left coast.)
Quote by Raine:Because Mayor MaryLouWho is just like him?Quote by Mondobubba:
Why is this man a sworn law enforcement officer.
Quote by Mondobubba:
Raine,
You did mention that Detroit is like 80% black, yes?
Quote by Mondobubba:Quote by TriSec:
I can work from home too, although I rarely do.
I'm fortunate that what I do in healthcare is a finite resource - there's actually very few of us out there that truly understand the ANSI 5010 format for claims and all the associated workflows.
With ICD-10 in the offing, I'm back in high demand; my inbox and my cellphone have been ringing with many contract offers.
(If I ever left ol' New England, I'd head for North Carolina. I really can't say why. Although I have had some nibbles from the left coast.)
North Carolina??? The newest bastion of stupid? Well the RDT has the highest concentration of PhDs in the country, but it didn't act as counter weight to the stupid gripping the rest of the state.
Quote by Raine:
See?Nearly half of the adult population is functionally illiterate. Detroit fails to protect its citizens and their property rights. It was recently ranked the second most dangerous city in America, behind only Flint. No one says they wish to move to Detroit to send their kids to Detroit Public Schools.
Detroit has too much land area and infrastructure for its current population of 700,000. The city had about 1.9 million in 1950 and it no longer makes sense to have the geographic boundaries it once had.
The time has come to think outside the bun.
Suppose that portions of Detroit were simply sold to private developers to create private cities.
And then there is this:They have redlined Detroit over decades (it's not just white flight and it's not just the suburbanization af the area after the highways system was built.) Banks redlined this city for the pleasure of the rich to come in an privatize it.Well, in this case we're talking about a black city, a black city that's had a black political establishment. And this is now being directed--many people believe that because it has been framed in a racist manner, that somehow the city of Detroit had this coming for the mismanagement and corruption and so on.
Well, the underlying causes have really very little to do with corruption. Perhaps what was happening is that during corrupt practices of the prior mayor, for example, they were not looking at what was happening to the debt that was being accumulated with the banks, and the banks were very happy to do this. So I think the racism in it is that the city of Detroit and the residents are being blamed for a crisis that was generated by the banks.
And as far as city workers and retiree's, they have reason to be afraid.They are facing a very real possibility of losing their retirements. Why is that? The pension plan predates the Social Security Act of 1935.The average annual pension payment for Detroit municipal retirees is about $19,000. Retired police officers and firefighters receive an average of $30,500. Top executives and chiefs can receive $100,000.
Police and firefighters don’t pay into the Social Security system, so they don’t receive Social Security benefits upon retiring.
More details:Approximately one-fourth of employees of state and local government do not participate in Social Security. This includes most to substantially all public employees in Alaska, Colorado, Louisiana, Maine, Massachusetts, Nevada, and Ohio.
In addition, approximately two-thirds of public safety officers--firefighters and police officers--do not participate in Social Security. These workers are in the seven states listed above and many other states.
An estimated one-half of public school teachers do not participate in Social Security, including a majority to substantially all in California, Connecticut, Illinois, Kentucky, Missouri, and Texas.
Also, more than one-fourth, but less than one-half of public school teachers in Georgia and Rhode Island also do not participate in Social Security.
here is why:Both employers and employees who do not participate in Social Security do not pay the Social Security portion of the FICA tax, (6.2 percent of payroll each). Public pension benefits for non-Social Security-eligible employees usually are higher than those of other public employees, to compensate for the absence of Social Security benefits.
Non-participation in Social Security dates to the origins of the Old Age, Survivors, and Disability Insurance program in 1935, when coverage was limited to private sector workers due to constitutional concerns regarding the authority of the federal government to impose taxes on states and political subdivisions (see Section 218 agreements, below). These concerns were addressed in Social Security Amendments of 1950.
Quote by Raine:That's common knowledge. did you see the massive semi blog I put down at 10:02? I;m still trying to figure out how to combine this blog repost with this information.Quote by Mondobubba:
Raine,
You did mention that Detroit is like 80% black, yes?
Quote by TriSec:Quote by Mondobubba:
Identify the city by the Starbucks locations.
Best answer: "Not Boston."
Quote by Mondobubba:Quote by wickedpam:
OMG So Creepy!!!!!!!
Fetus Toys
Creepy on many, many levels too.
Quote by TriSec:
This is not directed at Mr. Weiner. (OK, maybe it is.)
How come no spouse of any politician in a sex scandal ever has come out and said,
"Yeah, he's a disgusting, cheating, SOB and I hope he gets everything he deserves. He wrecked our marriage and destroyed our family, and you seriously think he'll do something different if you elect him? Thank God it was only another woman; what's next, little boys in his office? You should all learn from what happened to me; I will never forgive him for what he did, and you shouldn't either. If he lies to his spouse, imagine what he's telling you."
Quote by Mondobubba:Quote by TriSec:
This is a really bad day.
That might be the saddest thing I've seen so far today.
Quote by Raine:
best thing ever for the hour is this.
(as are the xtra gifs in the comments. )
Quote by Mondobubba:
Get your own "Carlos Danger" style sexting name.
Mine is Juan Death.
Quote by wickedpam:Quote by Mondobubba:
Get your own "Carlos Danger" style sexting name.
Mine is Juan Death.
Anibal Peril or Fabricio Distress depending on which name I use