How it's Done in Detroit -

4 Replies

http://www.detroitnews.com/article/20140529/METRO01/305290038/Detroit-spends-8-7-million-flip-30-homes-bring-2-million

@Joshua Dorkin I think you need to check this out! Detoit, government officials, and profits don't seem to fit well in a sentence, but in this case they do.

Can these Detroit officials be brought on a podcast and shown some love? The $20 dollar bill in my pocket is sizzling. How about yours?

In all seriousness~ How?!?!

that's how we roll in the D. Stupid stupid people

The real problem is that the people we elect are primarily talented at getting elected. As a general rule anyone who has even reasonably marketable skills stays out of elected office and quietly goes about building a fortune in business. And those who later desire elected office tend to have motives unrelated to benefiting the taxpayers.

I can picture, and am academically sympathetic towards, how this happened in Detroit - but I cannot excuse it.

The Concept was superficially sound: We Will Revitalize An Area. But the underlying issue (insufficient job structure) is not addressed. People with a sound and stable job paying a viable wage will revitalize their own areas without outside stimulus. After all; that is how and why those homes were built originally.

But with the government focused on the icing and ignoring the cake and spending someone else's money - and very likely pimping the work to rapacious contractor 'friends' of theirs - here we are. <g>

stephen

---------------

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you