123,000 is still very cheap

advisedwang a day ago | parent | next [-]

Did you look at the $3000 house? https://govauctions.app/auction/hud-home-420-e-dayton-st-fli...

It needs to be torn down and rebuilt. It's not a large plot. It doesn't seem to be in an attractive location. For all we know the water is undrinkable. I suspect its true value is negative.

	▲	Scoundreller a day ago \| parent [-]
		Heh, some landowner near me owned a piece of contaminated property. Technically worthless but was getting some lease money for a shop on the property. I think their game plan was for the city to grow and it being valuable to excavate one day for a condo or other building. Soil remediation is a lot cheaper when you dig anyway. Transit agency tried to expropriate for a train station at market value: ie $0. Looks like it got settled out of court: https://canliiconnects.org/en/commentaries/88178

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furyofantares a day ago | parent | prev | next [-]

Sure, maybe - but just because 123,000 is cheap doesn't mean it's OK to make your headline "You can buy a house from the government for $3,000" if the reality is that it's 40x as expensive and you don't actually get a house, you get a demolition project you have to complete in order to use the land.

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cliglot a day ago | parent | prev | next [-]

Yes and for that I can get something much nicer in a non derelict area. Probably a much better plot too if I go rural.

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beng-nl a day ago | parent | prev [-]

Not if the thing is actually worth $3000