Detroit.

[DimPrawn]

A lot of the North in the UK is going to look like Detroit when the UK hits bankruptcy and the cushy public sector jobs are culled there.

[AtW]

A lot of the North in the UK is going to look like Detroit

Good thing I am in the Midlands...

[Cliphead]

I went there about 15 years ago. I quite liked it; it was a bit rough, but had ‘character’ and was even quite stylish in a grungy, industrial way, and you could have a good night out in town. Quite a friendly bunch of people, not in that plastic-friendly way you’d expect from merkins, but genuinely enjoyable. It’s obviously gone downhill very sharply since though, and without the car industry it’s in a mess. You have to wonder whether some new culture or industry might rise from the ashes of a once great industrial city. Music, art, fashion or some other trendy idea. People are remarkably resilient.

I was there about the same time and enjoyed my stay. It was a bit disconcerting though when instead of the usual 'have a nice day' line from shop workers etc, the line was 'be careful'.

Taxi driver at the airport advised me to remove the fake Rolex if I was going downtown

[Moscow Mule]

I see many of the vacant housing lots are going for £10.

How difficult would it be to buy 2-300 of them, bulldoze all of the housing material onto a few sites (<3%) and turn the rest to farming?

[portseven]

never saw the programme, but heard about the $10 lot's

wonder if there is an oportunity to buy 10 of them and wait for the upturn, it may be a long time coming in detroit, but for $100, who cares!

[Scary]

never saw the programme, but heard about the $10 lot's

wonder if there is an oportunity to buy 10 of them and wait for the upturn, it may be a long time coming in detroit, but for $100, who cares!

Is that $10 buys it outright, or you pay a nominal $10 and take on the debt from negative equity on the property?

[AtW]

never saw the programme, but heard about the $10 lot's

You should check the fine print - those $10 lots might some with $200k mortgage assigned to property: bank would give away house free if they had to so long as they can get their monthly payments as it would help them avoid classifying it as total loss.

[Doggy Styles]

And who was buying those things if locals no longer work on something that can be exported to other countries to earn hard currency that can then be swapped to stuff like fuel, etc?

What you describe might be enough to employ 10% of laid off population, what about the rest?

I don't know where you got 10% from.

Anyway, in answer to your main question of who is buying things. It is those who still have other jobs, and those selling in these new markets can also buy.

It's how a market works the world over.

Except it is a bit different under communist governments.

[Mich the Tester]

I don't know where you got 10% from.

Anyway, in answer to your main question of who is buying things. It is those who still have other jobs, and those selling in these new markets can also buy.

It's how a market works the world over.

Except it is a bit different under communist governments.

Thanks. Saved me the bother.

[threaded]

Anyone else watch the documentary about Detroit on Saturday?

It's like a post apocolypse disaster zone in a lot places.

Detroit used to look like that when it was but a collection of Wigwams.

Baking bricks on the site was only an excuse to make more ammunition.

HTH