The majestic architectural past for just pennies on the dollar! Some find these listings to be exciting steals while others would rather just sit and weep about the pricing free fall. The Zillow blog is in the latter camp with a post on how the Scripps mansion exemplifies "Detroit’s Sad Real Estate Tale." And while sadness is subjective, let's examine the case anyhow. The post goes on to warn you that the $195 K price is not so great when you consider how the city is just waiting to hit you with higher taxes. This is not confirmed, but it is the conjecture of the Detroit News Finance Editor, who it seems really like to play up debt drama for his gig. (A recent article was titled, "No lifeboat for Titanic load of personal debt.") He proceeds with a bleak forecast of Detroit's low property values, even lower property values (not seen since the 80s!), some conjecture about bus loads of Chinese investors, and a reminder that the city is on the urge of bankruptcy. So there you have it. Detroit real estate is Doomsday and this Fiance Editor has done you a favor with the reminder that the end of the world is no good time to restore wood paneling! · Six-Bedroom Scripps-Ellis Home Lists For Less Than $200 K [Curbed Detroit]
· At 195K, Historic Scripps Home Tells Detroit’s Sad Real Estate Tale [Zillow Blog]
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