Wayne County to auction 30,000 homes in fall

[ndavies]

Need a home In the city, here's your chance.

http://www.detroitnews.com/longform/...ures/29589915/

[Bham1982]

Damn, don't put your home up for sale in Wayne County in Fall 15; that's for sure. Will absolutely flood the market.

[Shai_Hulud]

This is sad, but I don't know what the solution is. Wayne County knows this is going to do nothing but further eviscerate the tax base, but they're doing it anyway because they're desperate.

[Chicago48]

This is sad, but I don't know what the solution is. Wayne County knows this is going to do nothing but further eviscerate the tax base, but they're doing it anyway because they're desperate.

Sad sad. How is this city going to get on its feet? Maybe Gilbert will turn downtown in a buffer zone and create a new city?

[mwilbert]

It is hard to see how putting that many houses on the market at once makes any sense for the county, even ignoring the potential effects on the neighborhoods. It is certainly going to depress the prices they get as well.

Whatever happened to putting tax-foreclosed properties into the Land Bank, which would seem to provide for a much more rational disposition process?

[Richard]

Damn, don't put your home up for sale in Wayne County in Fall 15; that's for sure. Will absolutely flood the market.

Maybe different if you have something move in ready,not sure how many in auction are actually in that readiness.

[Dumpling]

Am wondering if Detroiters planning to sell their house this fall took pictures of it by the
light of the beautiful freedom fireworks last night. The pics would make nice additions
to the usual sales descriptions of the house.

[ABetterDetroit]

And the merry-go-round of stupidity goes on and on. We don't tax food purchases but we tax the crap out of rent. Higher than 44 other states. Haven't seen a lot of poor people starving to death lately, but I've sure seen a whole lot of them kicked out of their homes in Michigan. Taxing an asset is moronic. Equivalent to cutting off your nose to spite your face.

[Honky Tonk]

And the merry-go-round of stupidity goes on and on. We don't tax food purchases but we tax the crap out of rent. Higher than 44 other states. Haven't seen a lot of poor people starving to death lately, but I've sure seen a whole lot of them kicked out of their homes in Michigan. Taxing an asset is moronic. Equivalent to cutting off your nose to spite your face.

Taxing housing worked fine when industry was booming and housing was in high demand. Today, not so much.

[BankruptcyGuy]

I don't think the problem is what's being taxed. The problem is:

a. insanely high tax rate, compared to services;
b. absurd valuations.

I haven't heard of a ton of success in property appeals, but I appeal taxable values early and often. A $10,000 home should have a bill of $340/year. The numbers I see in the news are thousands upon thousands, which to me is evidence of a valuation problem.