Thursday, April 26, 2012

DETROIT!.....DETROIT is on fire!...Let the vacant houses burn!


A series of arson fires in Detroit is setting dozens of vacant buildings and homes ablaze. Firefighters, meanwhile, have a controversial proposal on the table: Let the vacant homes and buildings burn to help trim city costs, MSNBC.com reports.
“We are in no way looking to 'let the city' burn, this is about saving lives and money,” Donald Austin, Detroit’s executive fire commissioner, told WDIV-NBC in Detroit. “My department is strapped, the budget is strapped, and it’s time to look at a new way of doing things.” 
That new way, according to Austin, would mean allowing vacant buildings to burn that were more than 50 percent on fire and when they do not pose a risk to nearby structures.  The proposal still needs to win approval from city officials.
Proponents of the plan say the vacant buildings are going to be torn down eventually anyway, and argue that letting them burn will save costs. Critics, on the other hand, say the vacant homes shouldn’t be allowed to burn unless they are on a predetermined demolition list. 
Detroit has been plagued by vacant structures in recent years, with an estimated 80,000 vacant homes and buildings, according to a new documentary, titled “Burn,” about Detroit firefighters that includes the controversial new proposal. What’s more, the fire department says that 40 to 60 percent of the city’s fires are in vacant structures.
Arson fires in Detroit have increased dramatically over the last few years. In 2010, arson fires rose to 1,082 incidents, which is 636 more than a year prior, according to FBI data. 
According to the film “Burn,” filmmakers cite several reasons for the increase of arson fires on vacant structures, including arson for profit, home owners who are underwater, and fires caused from scrapping. Scrapping is when thieves strip vacant buildings of materials, such as metal piping. If gas line is left exposed, this can lead to a fire.  
Source: “Detroit May Let Abandoned Buildings Burn,” MSNBC.com (April 24, 2012)

Wednesday, April 18, 2012

Inventory of "For Sale" Homes Posts Big Drop

In fact, all 146 markets posted a drop in their inventory, except for two — Hartford, Conn., and Philadelphia. 
The nationwide median list price in March also saw improvement, increasing more than 5 percent last month compared to last year at this time. 
The housing picture is much different than last year at this time, when inventory was up 26 percent and list prices were down 4.81 percent. 
“If the market continues to hold its own, 2012 could well mark the beginning of a broad-based housing recovery,” according to Realtor.com. "