the great housing debate, my story..., page-77

The danger with allot of US property as I understand it is that there are lots of outstanding back taxes on it that have to be paid by the new owner so the property is not as cheap as it first looks. Furthermore areas like Detroit etc are complete wastelands due to lack of employment i.e. less jobs so people have to move else where to find work.

In many respects some of these areas are like our country towns 1 industry/business closes down and the properties become basically worthless overtime as people have to move elsewhere to find work.