Travels with Scott

A week after the Census announced Detroit’s population had shrunk by 25% (!!) in 10 years, to the lowest level since 1910, the latest S&P/Case-Shiller Home Prices Indices show housing prices in the D have fallen to the levels of 1994. Ouch … unless you’re looking to buy, in which case you’re all set … unless you need to find a job in the area, then back to ouch.

For someone who spends most of their time overseas however, and just wants a place somewhere in the States to call home, Detroit may make it worth your while. A previous posting looked at deals in the beautiful historic Boston-Edison district, while a recent Detroit Free Press article highlighted deals in the similarly historic Palmer Woods district. Something to consider if you don’t need a job, or public schools for your kids (only about 60% of Detroit public high schoolers ever graduate).

Well, not in the actual game, but in one of the commercials. Apparently, I wasn’t the only one impressed by the spot – the Detroit Free Press had a front page story on the ad the day after the game. Check it out, below.

My first day househunting in Detroit, I met my realtor, we’ll call him Greg, in front of our first prospective home on a cool, clear March morning. We were in the heart of Detroit’s historic Boston-Edison neighborhood (previous post on Boston-Edison here), former home of Henry Ford and other titans of the Motor City, but now a slightly forlorn district of beautiful old mansions and friendly homeowners trying to fight off the decay gripping Detroit. I was looking at foreclosures. There were plenty to choose from – the homeowners were losing their fight.

UPDATE (7 FEB): Detroit’s mayor just announced a plan to help Detroit cops move back into the city (many left, for the same reasons so many others left). A part of the plan calls for fixing up abandoned homes in the Boston Edison neighborhood.

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Need a unique, stunningly cheap place to live? Don’t mind long winters, crime, or utterly godawful schools? Then how about Detroit? For less than the cost of a tiny condo in other cities, you can afford a mansion amongst the finest homes in the city, surrounded by the former estates of the families that built the Motor City.

Don’t believe me? Click your way over to Historic Boston Edison and peruse the homes for sale – some for under $50K. I’ve been through 10-15 of these places (beware the crack addicts and copper pipe thieves, seriously) and they are equal parts sad and beautiful.

It’s a shame what’s happened to a once great city, but if you’ve ever wanted to own your own estate, albeit one in need of a lot of TLC, here’s your chance. Perfect for those who spend most of the year overseas, but still want an address in the States (and don’t mind paying for extra security while they’re not home …).