Debate House Prices


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Will we see houses being sold at Poundland ?

BiggaThanBen
BiggaThanBen Posts: 529 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Debate House Prices & the Economy
Foreclosure fallout: Houses go for a $1
DETROIT -- One dollar can get you a large soda at McDonald's, a used VHS movie at 7-Eleven or a house in Detroit.
The fact that a home on the city's east side was listed for $1 recently shows how depressed the real estate market has become in one of America's poorest big cities.
And it still took 19 days to find a buyer.
All my life my mother told me the storm was coming (c) Terminator 3
«13

Comments

  • dudleyboy
    dudleyboy Posts: 765 Forumite
    With the current exchange rate we'd be able to get 2!

    Hmm... one for me and one as a BTL investment... I might whip out a fiver and build my own empire! :D
  • Chris2685
    Chris2685 Posts: 1,212 Forumite
    It is possible I guess when people get desperate to lose this worthless thing that is just costing them council tax each month!
  • chewmylegoff
    chewmylegoff Posts: 11,466 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    BiggaThanBen wrote: »
    Foreclosure fallout: Houses go for a $1

    surprised the bank just didn't have it bulldozed.
  • BiggaThanBen
    BiggaThanBen Posts: 529 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    chewmylegoff wrote: »
    surprised the bank just didn't have it bulldozed.

    no surprise here, it costs money to bulldoze
    All my life my mother told me the storm was coming (c) Terminator 3
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    dudleyboy wrote: »
    With the current exchange rate we'd be able to get 2!

    Hmm... one for me and one as a BTL investment... I might whip out a fiver and build my own empire! :D

    ive just tipped out my foreign coins tin and have 17 USD plus scraps in usd :beer:

    can it really be THAT bad to live in one of these houses? I live in one of the roughest parts of london already, so suppose i could take it....

    then I really can be a cash buyer, withough having to break into my real savings.

    Could I buy one of these houses and give it away? im sure there is a family on welfare somewhere that might benefit??
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • formulaonefan
    formulaonefan Posts: 357 Forumite
    The agent did say that the buyer agreed to pay the full list price of $1, and planned to pay cash.
    :rotfl::rotfl::rotfl: wow....it is a cash purchase! lol.
  • harbinger13
    harbinger13 Posts: 138 Forumite
    Is there a Q at Poundland?
    Recession - if you are forced to drink beer at your home.
    Depression - if you have no beer to drink at all!
    I don't see any of the above - so where is it (recession)?
  • formulaonefan
    formulaonefan Posts: 357 Forumite
    lynzpower wrote: »
    ive just tipped out my foreign coins tin and have 17 USD plus scraps in usd :beer:

    can it really be THAT bad to live in one of these houses? I live in one of the roughest parts of london already, so suppose i could take it....

    then I really can be a cash buyer, withough having to break into my real savings.

    Could I buy one of these houses and give it away? im sure there is a family on welfare somewhere that might benefit??

    Even $100 or $300 is not that much is it? I spent £40 on my shoe the other day. Imagine you can buy 70 houses for that money. How about buy the house and bull doze it and just keep the land. There must be some value for land? Rebuilt on the land when the market picks up in 2030?
  • ginvzt
    ginvzt Posts: 4,878 Forumite
    1,000 Posts Combo Breaker
    formulaonefan wrote: »
    Even $100 or $300 is not that much is it? I spent £40 on my shoe the other day. Imagine you can buy 70 houses for that money. How about buy the house and bull doze it and just keep the land. There must be some value for land? Rebuilt on the land when the market picks up in 2030?

    Imagine how many houses you can buy instead of the second shoe!!!! You can have a whole village to yourself!:rotfl:
    Spring into Spring 2015 - 0.7/12lb
  • Walletwatch
    Walletwatch Posts: 1,055 Forumite
    dudleyboy wrote: »
    With the current exchange rate we'd be able to get 2!

    They will still need to hard-sell it. What they might end up doing is market it at a pound a house, and then add a BOGOF deal to it :rotfl:
    It's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!
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