House in Dying Detroit bought for $100

castle

Not the $100 house. This house has now been demolished.

On a day when scientists are releasing new information on Kiuic, a ancient Mayan city where it now appears that the inhabitants just walked away in approximately 900AD, leaving a city frozen in time, I thought we would revisit Detroit (which we’ve looked at before a couple of times, here and here), the modern day equivalent of a disappearing city.

Designed to accommodate over two million inhabitants, the population of Detroit is now down under 900,000.  The average house price is approximately $11,000.  There had been rumours that someone purchased a house for as little as $100.  This purchase has now been Continue reading

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Dying Detroit — an update

Just a quick follow up to an earlier post on the slow abandonment and (potential) death of Detroit. This graph from Carpe Diem makes for interesting reading:

detroit

Just under $12K for a house compares to the Michigan statewide average of $94K. A thirty year mortgage on that amount works out at about $13 per week — for the price of a couple of six packs you can own your own home.

These plummeting numbers are far beyond what might be ascribed to the current recession. If prices have fallen that fast since 2003 and reached that low, it can only mean one thing: people are out of there.

Abandoned cities: the slow death of Detroit

Abandoned and lost cities–from Petra in Jordan to Machu Picchu in Peru–have long captured the imagination of adventurers, writers, historians and scientists. The idea that once thriving places are just left to be reclaimed by nature is both romantic and mysterious. What adds to the mystery is that even within cultures that have recorded histories, the reasons for such abandonments are often lost.

Continue reading