Quote Originally Posted by southsider View Post
Here's the dilemma...Its awesome to incentivize people, particularly police officers to live in the city. And although I think you have a greater chance for success of that in the better neighborhoods of the city, the problem is the dollar amount. It would be difficult for me as a non police officer to buy a home in one of these neighborhoods for 300k to 1 mill+, knowing I have next door neighbors that dropped $1,000 for their home [[police officer or not).

I think the net result is it lowers the property values for everyone in the neighborhood, and creates the illusion of a safer environment. Is it really worth it?

I would think that you make the officers put some equity into the home. If I only had 1k in a place I'm significantly more mobile and lets face it, Detroit is not exactly a place to plan a longterm future in. The people you'd attract are the young, ambitious, newly married or single cops who will bolt the second they get married or a better opportunity elsewhere.
First, it says "as little as" so I'm guessing that 1k figure is the exception, not the rule.
Secondly, it says towards abandoned houses. Abandoned houses in Detroit anyway bring down the property value far more than a house going for dirt cheap. An abandoned house is more likely to attract squatters or some hood rats than anyone, so virtually nay alternative is preferable, especially a cop.
Besides, houses in both neighborhoods have gone for $10k~ on a regular basis.
Finally, I'm guessing they're not going to let Officer Lunchbox have the Berry Gordy mansion for $1,000. There are actually a ton of rather modest properties in EEV and BE. The highest anything goes for in EEV anymore is well under 200k so I'm not too concerned.
In fact, I'm almost excited...if only this works...