on the CBC 'National' news program last night there was a piece by a reporter visiting Cleveland which apparently was worst hit for forelcosures in the US 'Cleveland City Council passes law to recoup demolition costs and hold property owners accountable' updated: Nov 14, 2011 5:36 PM PST "DOWNTOWN CLEVELAND, OH (WOIO) - In the midst of the foreclosure crisis and more than $25 million in tax dollars spent to maintain and demolish negligent properties, Cleveland City Council passed two ordinances at their Monday, Nov 14 meeting: (Ord. 1519-11) seeks to recoup demolition costs and the second ordinance (Ord. 1520-11) requires companies that sell property in Cleveland to register and identify a point of contact with the State of Ohio. "Cleveland razed more than 4,300 structures since 2008," said Ward 16 Councilman Jay Westbrook. "The average cost to demolish a condemned property in Cleveland is between $6,000 and $7,000."" the council man the reporter spoke to said that 10,000 properties in Cleveland had been identified for demolition houses from . . . starting bid $6,000 http://www.gohoming.com/search-results.htm?fullPropAddress=CLEVELANDOH&type=reo-properties how about Detroit, Listing Price: $219 http://www.gohoming.com/search-results.htm?fullPropAddress=DETROITMI&type=reo-properties
'Vacant housing 17.2% Cleveland has an unemployment rate of 17.1%, compared the national average of 6.9%.' other sources have a much lower number http://www.simplyhired.com/a/local-jobs/city/l-Cleveland,+OH eBay has some houses for sale - '3 bed 1.5 bath home for sale' South Bend, Indiana. Current bid: US $3,500.00' http://www.ebay.com/itm/3-bed-1-5-bath-home-sale-/160680132523?pt=Residential&hash=item2569483fab
"The average cost to demolish a condemned property in Cleveland is between $6,000 and $7,000."" ---------------- I hope these municipalities choke on the demolition cost. Go cry your river to the epa. The landfill fee is probably >5k. Even the landfills are in debt and losing money thanks to bonds and regulations, etc.