Comment by danjayh | Hacker News Reader

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Comment by danjayh | Hacker News Reader

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$35k for bare land? In Detroit, $35k gets you a lot with a newly renovated, 3 bedroom, 2 bath house. Random example at $37k: http://www.realtor.com/realestateandhomes-detail/487-W-Green...

Edit: I can just keep going and going with nicely livable ~40k houses in Detroit:

http://www.realtor.com/realestateandhomes-detail/13111-Grigg...

http://www.realtor.com/realestateandhomes-detail/17593-Monic...

http://www.realtor.com/realestateandhomes-detail/427-W-Green...

http://www.realtor.com/realestateandhomes-detail/18461-Sorre...

http://www.realtor.com/realestateandhomes-detail/5510-Three-...

... not sure if this is sad or awesome ...

Except you'd be in Detroit. :-)

I wonder if there is a huge hidden accumulation of unpaid property taxes the buyer would be on the hook for.

There likely isn't and risk to the buyer. These houses were most likely foreclosed or abandoned.

Detroit is auctioning off houses and lots that have not been paid up to the highest bidder by the dozens. These were likely purchased super cheap for flipping, and now being resold.

Detroit has a real problem with the city services right now, and as a result of the lack of services, and large land sales houses are SUPER cheap.

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