Ferguson property values crash.

Discussion in 'Politics' started by church mouse guy, Mar 25, 2015.

  1. church mouse guy

    church mouse guy
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    Ferguson may well rename themselves Obamaville.

    Homes that used to average $66K are now going for $22K. As one guy noted, why pay $22K for a house in Ferguson when the same house in Detroit is only $500?

     
    #1 church mouse guy, Mar 25, 2015
    Last edited by a moderator: Mar 25, 2015
  2. matt wade

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    Slum lords will be able to come in and make Ferguson more of a cesspool than it already is.
     
  3. Rolfe

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    Mid $60ks to the low $20ks. Sounds like a fire sale.
     
  4. Zaac

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    A house for 60K? Shoot, that was a steal itself.
     
  5. church mouse guy

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    I think that people will be walking away from those houses, as they already are.. Whatever revenue they hoped to get from property taxes for schools, police, and fire is now gone.

    That is what happens when the judicial system because a house of lies, thanks to Sharpton, Nixon, Obama, and Holder. A lot of people ruined because of the lies from those four.
     
  6. Zaac

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    Pure foolishness. Funny how you can blame this on folks coming in there to help. But haven't said anything about the pervasive racial prejudice and racism being a factor in them being there.

    Privilege continues to be blind.

    Ferguson is where it is because a bunch of racially prejudiced white folks got it there. The kid getting killed just happened to be what was used of God to expose it.
     
  7. Tom Bryant

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    It's sad because a lot of people are losing what they thot was an investment in the future. Regardless of who is to blame, the people of Ferguson are losing.
     
  8. Zaac

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    It may actually end up being a blessing in disguise as people who couldn't previously afford a home can now purchase one. Or perhaps this will open the door for investors to buy up some property and really start to do some things.
     
  9. Tom Bryant

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    Is your experience with developers one that sees them building low income housing? Mine is not. They usually see the bargain and build houses so they can open up a new bedroom community for whatever city is close by, in this case, St Louis.

    I am not saying this is wrong. I am a free trader and a capitalist.
     
  10. Zaac

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    It depends Tom. Ferguson is close enough to St. Louis that it could potentially be a goldmine for investors. I think the secret is to buy up enough property CHEAP like it is right now, and allow for a mixture of properties. Keep a percentage of the homes to be made available for purchase by the people who are already there.Definitely not all or even mostly low income. Probably about 25% so that some of the older folks who have lived there can remain and actually afford their own homes.

    And demo some of the others and do some new builds with restructured neighborhoods.

    They would have to better represent the community in the city's government structure though to make people feel good about relocating there.

    But if I were an investor, I'd definitely look into some of that property if just to flip it.
     
  11. Rolfe

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    You would likely be wasting your money if the reputation of the area does not change. The concept of personal security has much to do with property values. People do not want to live in dangerous neighborhoods. At least that has been my experience.
     
  12. church mouse guy

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    It is now Obamaville, not Ferguson. The people whose houses are now worthless will lose tens of thousands of dollars because of Sharpton, Obama, Nixon, and Holder. Obama must be proud of his evil handiwork and his lies.
     
  13. Revmitchell

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    Investors who know what they are doing will not invest in Ferguson any more than they did Detroit. This is what liberalism does to communities. This is what the false narrative of white privilege does to communities, this is what extremist politics does to communities.

    This should be a lesson but it won't.
     
  14. Zaac

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    I agree. That's why I said they would have to do something about the area's governance to make it more attractive for people to want to relocate there.

    It reminds me of the reputation that Forsyth County, Georgia had back in the late 80s, early 90s. But that area was quite affluent. There just weren't any black people living there. But it has since gone on to become one of the wealthiest counties per capita in the country with a more diverse population. They've slowly made strides. But strides have been made.

    Perhaps Ferguson could do the same thing.
     
  15. Zaac

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    I thought about Detroit. The problem in Detroit is there are no jobs around there because everything was so focused on the auto industry. The St. Louis metro-area seems to be a bit more diverse industry wise.
     
  16. church mouse guy

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    Most of the whites will flee Ferguson. Sharpton types will buy up the cheap properties and make a killing. Nixon may well get the Democrat nomination as a payoff for holding Holder's coat. Obama will never apologize for touching off a crime wave in Ferguson/Obamaville that will never end.
     
  17. Zaac

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    So the white people will flee because the government becomes more representative of the community?
     
  18. church mouse guy

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    Instead of Obamaville, they could name it Zaacville.
     

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