http://online.wsj.com/article/SB1253...Tabs%3Darticle
includes some nice photos from across the years - see the slideshow and interactive graphics tabs
http://online.wsj.com/article/SB1253...Tabs%3Darticle
includes some nice photos from across the years - see the slideshow and interactive graphics tabs
Interesting article to a point- but otherwise just another drive-by report from the Murdoch Street Journal.
The comments page was particularly enlightening- nothing but a slamming post against Democrats and liberals in general, at the hands of clueless, elitist Rethuglicans.
Guess the fascist readers of this article forgot it was Rethuglican policies of unregulated markets that brought the downfall of our society.
Sure Detroit's problems were deep for decades, but little blame is due the Democrats- the rich, white Rethuglican corporations that chose to outsource jobs to foreign countries, banks that redlined and sought to destroy Detroit neighborhoods, aided and abetted by white slumlords who have used up what's left.
Let's lay the blame squarely where it really is.
Well, since I don't subscribe to the WSJ and since I have to be a subscriber to read the full article [[other than that paragraph teaser), I guess I'll just have to imagine what it says.
All hail Google News........
http://online.wsj.com/article/SB125390841258341665.html
Access to all for 30 days!
Google news link doesn't work either. And it seems that you can't post a working link to the WSJ article there [[I tried it too). But if you go to Google News and enter "1626 W. Boston Blvd." as a search term, a link to the entire article pops up.
Interesting story. But the last transaction in that chain before the foreclosure sounds like pretty obvious mortgage fraud, which was really a major factor in the mortgage collapse, particularly around this area. One that remains far too little spoken of or investigated. I was disappointed that the WSJ reporter didn't dig into that a little further.
I'm amazed someone would even pay $10,000 for this property. Keep in mind that this house is NOT in prime Boston-Edison, but on the western side of the neighborhood, west of I-75.
This area [[West Boston/West Chicago, etc.) may have big homes and wide, leafy boulevards, but it has been a TERRIBLE neighborhood for decades now. It was even bad 40 years ago. The epicenter of the riots was just few blocks south [[very easy stroll) from here. I can't imagine how scary it must have been to live here during the days of the riots.
Real estate value is land value, not house value, and I can't imagine how this land has any present worth. Not surprisingly, it was purchased by a suburban church, which is renovating it as a charitable work. I commend them for their community service, but it speaks to the fact that no family would consider such a property.
The whole neighborhood is west of I-75. East of I-75 would be Hamtramck.Quote:
Originally Posted by crawford
"But the last transaction in that chain before the foreclosure sounds like pretty obvious mortgage fraud, which was really a major factor in the mortgage collapse"
You mean the market was so deregulated that there was rampant theft? [[B/E was especially notorious for such activity). You mean that millions of "invisible hands" were unshackled to steal? Who would have thought such a thing was possible?
Not the editors of the WSJ Editorial Page, where "unregulated markets" and the Eye-Rack invasion are still hailed as "successes".
note: the google news link will still let you look at the slide show, where you can ogle the handsome house.
Think the user meant west of the Lodge [[M-10).Quote:
Originally Posted by Bearinabox
Sorry, my bad; I meant west of the Lodge.Quote:
Originally Posted by Bearinabox
The nicer [[and more expensive) part of Boston-Edison has always been east of the Lodge.
The Lodge essentially separated the neighborhood into two distinct parts, and the western part never really recovered.