Baltimore City selling properties for $1 to address vacant home crisis
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- Опубликовано: 21 мар 2024
- Buying a house for a buck - sounds too good to be true. Well, that’s because it is.
“The reality is you probably need closer to $150-200,000 to renovate one of these structures,” Dr. Dwanda Farmer, community economic development expert and CEO of the CED Doctor in Baltimore, said.
That’s why the Department of Housing and Community Development (DHCD) is requiring applicants to its newly approved “Fixed Pricing Program” to provide proof they can spend at least $90,000 to renovate a home after purchasing it for just a dollar.
READ MORE: www.wmar2news.com/homepage-sh...
You buy the property for $1.00 and they tax you on what the city thinks the property is worth. Hard pass
Buy it for a buck, then sink 150 stacks into it, just to have it worth jack (because next door is selling for a buck).
😅just pass on it.
In NC, places like this are required to be torn down. That would make the most sense. Who would renovate at townhouse that is next to an abandoned one? Who knows what kind of mold, etc is in the vacant properties next door.
@@JUSTINWRIGHT-fc6ie Exactly. Location, location, location.
@@user-dw1ls3rp1l I think their hope is a property flipper will buy 15 houses, renovate and sell.
That lady is right. There needs to be multiple block renovations. Nobody wants to buy a home to sink 150k into with boarded up houses and a liquor store next door.
Reno the home, then squatters break in and get a new home. Win for the city, win for locals, bad for you. You are an evil slumlord/speculator :D
If you’re a business person you learn to find opportunities in chaos.
@@toprankintv9122 the socialists in Baltimore are just trying to lure people with money back in the city so they can take everything they own. Not going to happen.
@@toprankintv9122Exactly what I did during Covid ❕ I found method in madness ❕😏🙏🏿
E X A C T L Y 👍🏿
People left due to crime. So instead of eradicating crime, they try and find more victims for the criminals.
lol
😂😂😂😂
🤦🏾♂️😂😂
Safe Streets will Protect them
SO TRUE
It’s either gentrification or slumification. Take your pick.
Slumification? Nice word. 💯
Exactly.
True!
Gentrification has to be the most misunderstood and misused term when it comes to urban and civic planning.
God forbid your property values should go up and you not run the risk of living in an area 2 miles from a grocery store and where you’ll get shot for looking at someone the wrong way.
The speculation and price-gauging of residential properties is not gentrification, nor is it in any way tied to it. The maladies we face in large American cities is due to the fact that homes went from being just homes, to becoming speculative financial vehicles with profit/loss margins akin to the restaurant business (i.e., charging $20 for an omelette containing $2 worth of ingredients).
@@sergpie It's how cry babies are. Either it's oh my gosh we as a people suffer due to lack of investment or oh my gosh too much money coming in now I can't afford it.
Mayor Byron Brown did this for the city of Buffalo 12 or 15 years ago. If you buy the house, you have to renovate it, and promise to live there for at least 2 years. It worked and Buffalo experienced a renaissance. A lot of young people moved here, started businesses like micro breweries…it was a brilliant success!! I wish Baltimore the best🙏🏻❤
Selling old lead based paint and asbestos infested buildings for $1 is not a deal its a death sentence.
Here’s the issue. After your $250k renovation, you’re still on a block of row homes that are crime infested dead body dumping grounds. I’ve always said, the city has to redo “blocks” not single row homes. It doesn’t matter what you invest into the home if the value of the block is still negative
the way cities manage these types of properties is appalling they won't let someone just live in the property, and gradually fix things up. Like if you could get a single room in a livable state with a bathroom you should be able to buy the property and make your improvements. There was one property i was interested in the top floor was a total loss, but the bottom was in decent shape i was interested in keeping the facade, and making the top floor into a garden area while having a bit of living space.
TBH you have to have vision .. yea for now the area is the slums but I have a feeling that by 2030 and the reconstruction of the key bridge you never know it might be a rejuvenation. It’s only gentrification if it’s not the community invest back into itself. Outsiders with vision will have a Starbucks and condos there in no time. that’s what’s happening where I’m from in Newark NJ
@@1beatsbytdot there’s a graveyard of investors with completely renovated row homes that would disagree. You can’t sell/rent it for more than someone who’s willing to live in that neighborhood would/can pay. Those who do have more financial flexibility aren’t opting to stay in those neighborhoods. I don’t think the bridge being rebuilt is going to help
Once one house is renovated. Others will follow.
There is such a lack of affordable inventory they will go
That’s right.
Don’t buy these. We have the $1 homes in Saint Louis. You buy for $1 and there is $250,000 in renovation costs!
She just said that.
$250,001 is not a bad price for a whole house. The area is the meaning question
Lmao until you see people move in for $1 and barely fix the place up. But they living in there with water and electricity 😂😂😂 then what would happen next?
That’s the point of the initiative. They’re just removing the cost of purchasing the property and an added mortgage and instead want these places renovated and livable. Beats them being crack dens that fall apart. Many of the architecture is priceless and we don’t build houses like these anymore in the states.
@@Ray03595 I hear ya’. There were young Black girls being raped in the vacant homes. Nothing was done. A White firefighter was killed while attempting to douse the fire. The entire building collapsed on him. They are now demolishing the $1 homes in Saint Louis. A White man’s tears mean more to Saint Louis than the safety of young girls.
One dollar for the house and ten thousand for a burial plot. which you will need one day after moving there.
Ha Ha yup
unhelpful racism is a poison you drink.
😂😂
Now that was funny 😁
😂
🤣😂 buy property for $1 and get a free squatter! It’s a package deal!
Obviously, you’re not from Baltimore because we don’t have many squatters. These homeless people are dumb enough to stay out on the street.
😂😂😂 I should not laugh but it’s funny.
Have your supplies stolen while trying to renovate the home
Why speak negativity over people trying to put human beings into homes? It's so sad that these comments can even be seen.@@floridaman7
And pay taxes while squatters live there. Progressive utopia!!!!
They did the exact same thing back in the early to mid 70s. I graduated from Frederick Douglass High 1974. I remember the city putting up $1 houses way back then and it worked until the drug epidemic happened, then everything went to sh1t.
And it will happen again if ya give it to the same poeople, it’s the Carter part 2
Powder sh1t?
Also it didn’t cost $90,000-$200,000 to restore one of those “homes” in the 70s so completely different
@@datszquherddwell considering pay was much lower under 3 bucks a hour minimum wage & the even higher inflation back then it was harder. now there was more unskilled jobs back then because Globalization & internet wasn't in place to disrupt local trade...so please stop with excuses.
And you know the white federal government put drugs in those neighborhoods too right did you mention that
This worked in Italy because the location wasn't full of crime and violence. Fix the crime Baltimore. Stop trying to play games and trick people.
Fix the crime? How do you fix the people in the area who ruined the place to begin with?
crime is the result of wealth inequality. $1 homes would save people money thus alleviating some wealth inequality and therefore less crime.
@@yert5035 I call BS on that one Poor chinese people, and poor white people do not create the level of crime coming out of the POC community! It is insane to hold society hostage because certain groups make bad decisions and want a reward for those bad decisions!
@@yert5035crime is caused by people with little to no morals. During jim crow, there were MANY black nuclear families in the south. Many were poor. Dirt poor. Less crime.
I lived in a small town in NC in the 80s. They had projects with very little crime. The people were poor. Very poor.....
The problem in crime ridden areas are the parenting of the juveniles. The problem would stop with good parenting. If parents turned in their criminal children and kicked them out of the neighborhood, then crime would get better. If the neighborhood shunned the criminals and ensured the criminals left, the community could thrive
@@johnsmith5028 9mm )
Harlem NY did that back in the 90s.... and poof now you cant even afford a door knob
I guess you would prefer abandoned buildings.
🤣😂 comparing manhattan economy to Baltimore is crazy
@@P2Feener305He wasn’t, but I lmow, I know. “This is crazy, that is crazy 💀” is the go to generic comment for you kids
Wakanda lol I appreciate the complement I used words that you kiddos use to appeal to yall more lol I’m old enough to be your daddy but young enough to F yo mama 🤣😂
@@WakandaleezaRazzdamn bro, that's wild
I don't understand how they expect regular people to buy in high crime areas. I don't care how big and expensive your house is. ROBBERS AND MURDERS WILL BE ROBBERS AND MURDERS regardless of the environment. Fix the criminal element and you will get people to spend their money and revitalize that community
How about having opportunities for the 'regular people' in said communities? Most people in poorer areas have to go outside of their community to work, go to school, go to a bank, buy groceries, etc. Their taxes are not being used where they live and their resources are being spent in the so called better (aka white) areas because of limited resources where they live. It's all by design. And crime does not have a zip code.
@@williamclark1244 But it does happen more often in certain zip codes.... I'd rather live in a place where the likelihood of me getting robbed is 0.1% versus some place where the likelihood is 25%
@@williamclark1244didn’t a bunch of businesses close in SF due to high crime? Didn’t Walmart and Walgreens have to shut its doors because they kept getting robbed. If there’s no opportunity for those people in those neighborhoods. It’s their fault. Stop robbing from your own community
@@williamclark1244That is pure nonsense!
@@onceagain6184 That was absolutely the truth.. news flash everyone that lives in bad neighborhoods are not criminals
The problem was never the house it's the peeps around them! "The back bone of the city" has also been the destruction and downfall of the city!
The people who were the backbone of the neighborhood cannot afford to rehab those buildings.
Thank You.
The people who consistently/needing help, always have so many demands…
The neighborhood has no backbone anymore. It’s completely run down and a drug den. Y’all are fighting real hard to keep minorities in dangerous hoods surrounded by violence…
Also the reason those houses are abandoned is because "the backbone of the city" drove the previous owners away! If baltimore was 95% any other group than the one that inhibits it, the city would be a great place! Everyone knows that to be truth!!!
@@johnsmith5028facts 👏
The back bone/ blacks have it the filth it is
Been there done that the program works but properties must be owner occupied. I renovated a 1900's Victorian in upstate NY in the 70's the house sat empty for years anything worth having was already gone. But the only requirement was I had job and an income to pay for the rehab and at the completion the deed was transferred to me for 1 dollar. Those houses represent income to the cities they want these programs to succeed the house I renovated is still lived in and paying taxes to the city 35 years later. I won and they won it requires sweat equity but it works.
FYI Gentrification works for Black people too. You can utilize this to purchase fix and flip flip or can rent and hold. There is nothing stopping Black people from securing financing to invest in our neighborhoods. I'm tired of the narrative that gentrification is wrong. It's an opportunity for everyone and Black community as well. If you dont feel like putting in the work then someone else will and make their money. Talk to your family members, call a realtor etc. I think it's worth setting aside cynicism and looking into.
800 applicants but only 300 homes for owner occupied properties
Haha nice bullshit. Think...if you are in the hood, probably you don't have the type of credit or capital to ride the gentrification wave. But hey if it helps you sleep better at night, keep believing things are equal.
They are not giving Negroes loans at all especially Dodge loans stop the cap if that was the case guess what it'll be more black homeowners they're not doing that as a matter of fact they're doing the opposite they moving us out and putting it illegal immigrants in dummy have you been watching the news for real
THANK YOU! I’m tired of being told I’m a sell out or brainwashed for having this mindset. There’s nothing stopping black people from partaking.
"Replacing residents by gentrification"
But....the homes are vacant....
The idea is the residents in the community won’t be able to afford the fixed pricing and home prices and rents will rise as well as price them out. The developers will price them out of their homes or raise the annual tax; in addition, if for whatever reason you need to move, it’ll be a lot harder to move within the community. There’s no safety net for the locals which is what the news is talking about.
@@kendellfriend5558it’ll take at least 50+ years for that area to be safe and desirable enough for anyone to actually want to move there. Also the other option is the homes remain vacant, decrepit, attract crime, and remains unsafe for the people living there. Not sure what you are fighting against exactly. A nicer neighborhood for people to live in is a good thing. You can’t expect the city to just sit there and let parts of the city remains run down and dangerous just so people can continue living in poverty. The worse case scenario is someone ends up dying due to all the crime. Best case scenario their property becomes worth millions and they are able to move where ever they want, or they are able to stay, the new area brings in new jobs, or even helps the small businesses in the area. Idk if you’ve ever been to these parts of Baltimore but they are hellholes and there is not “community” to preserve. Literally just cracked out drug druggies walking around like zombies. I am not exaggerating.
You would have to be stupid to want to live around the beezs who drove the previous owners out!
@@kendellfriend5558the locals can’t even afford it at this current state either. Would you rather have an eyesore that you can’t afford to fix up or would you rather the price of the house goes up where you can’t afford. Either way locals can’t afford it
Newsflash: other buildings are still occupied in the neighborhood. When rich people make the property values go up, guess what happens to other people already there. It's not rocket science, you can do this
i would love to work with the city, I have done more for than 40 houses in the city of Baltimore for the last 4 years and people moved in all of them. Howeve, I had to slow down and leave due to the chalenges from the city. these houses are so beutiful and each one has a story behind it. City of Baltimore has so much potentional and could be one of the best city in the United States,
Only problem is the group of peeps who inhibit the city! You know the ones who ruined the place!!!
@@johnsmith5028 & the people who look like you, who harbor HATRED for these ‘peeps’ who CONSTRUCTED all of this mess intentionally
I’ve lived in Baltimore for years and now I live in NC clean air, no rats, not crowded.
I want to move back to NC so bad it was so chill there
As a North Carolina resident I sincerely hope that you’re not voting Democrat.
@monicadavis6962 we are full here in NC stay where you are please.
@@jessegarman7899as a NC resident I hope that are a democrat....
Wait an minute if population countues to grow all that will change.
in todays economy it is too expensive to try and remodel a home. I've remodeled 2, but now raw materials are too expensive
You can just use recycled materials. It costs more labor to source and upcycle, however.
I'm so glad that other people recognized the gimmick they were trying to pull here. They took inspiration from the $1 properties available for sell in Italy, but there is a huge difference. In Italy, the villages are depopulated due to most people moving to larger cities, not because the crime is horrendous. I feel sorry for anyone tricked into buying one of these properties and living in them. They will be putting their life and assets at risk to do so.
If you buy for $1 and renovate, all you’re doing is putting a target on yourself 😂. They know you got the $$$ so expect your place to be ransacked. 😂
EXACTLY !
If nothing is done, these housing just stay empty. If people in area care so much, we’ll they should have first dibs and fix them up.
The people in the area are felons and addicts.
These homes are a liability, not an asset. They couldn't pay me to take one of these homes. I remember coming to Baltimore in the early 2000's and seeing all the boarded up blocks for the first time. I had never seen anything like it at the point in my life. I remember asking my friend how did this happen? He told me "taxes". I thought, yea OK...youre just saying that because youre a republican....It didnt take long to understand exactly what he meant and he was totally right.
I mean he wasnt though disenvement/economic decline/suburbanization/bad decisionions by city government also corruption/the crack epedemic and a bunch of other factors are what created this but sure taxes
@@bill4514 Yes, it was. All those things you listed factored into the decline, but high taxes sealed the deal. You can go to the county (literally less than 1 mile away), get much better services (police, schools etc), live in a nice neighborhood, experience less crime... and pay HALF the taxes. Why the hell would anyone own a home in the city? Baltimore city did this to themselves over a 50+ year time period and never in the time (or to this day for that matter) did they choose to correct any mistakes. Now it's too late as the population spirals. No sympathy for them.
They need to fix crime and drug problems. Other states have higher property tax, and they're not boarded like a ghost town (Chicago, IL. Jersey highest in the country doesn't look like this
It was also lack of homeowner loans to maintain those properties.
You renovate the home meanwhile all the homes around you look like garbage immediately lowering the value of your home too.
Exactly
The homes are not the problem in baltimore it's the people who live around those homes that drove the previous owners to leave!
Don't over renovate. Make it livable, not luxury.
Price = 1$
Taxes due from previous owner =30k $
Cost of renovation= 150k $.
Don't forget fines and past due utility bills. LOL. 😁😂🤪🤣🤭🙃🥴😳🙄🤦🏻♂️🤷🏻♂️👌
And don’t forget the cost of a newly reconstructed house you can’t live in because the neighborhood is too dangerous. And wait until you try to sell it to some other fool…
Learn from 1990s Harlem. Cats assumed it would stay crime drug infested when HUD sold properties for $1. Magic Johnson set up Starbucks & Movie Theater on 125th St. The POTUS saxophone player took office at AC Powell Blvd. Suburbanites preferred the A,D express from Midtown rather than driving 2-3 hrs. Good luck B-More.
Harlem is still a shithole, though.
@@starventure You mean " North Manhattan" lol were rent is 3000
@@starventureI'm sure that why those on Striver's Row by W 137th St still maintain their high property values, or the new hotel and developments by The Apollo.
This is the first thing that came to my mind! I remember when my dad said people are going to tire of driving in from Jersey, Long Island, etc to work in Manhattan when they can easily commute from uptown. We fumbled the ball on that one.
Harlem was not as bad as these neighborhoods.
Why remodeling when squatting has become a problem in every state, Change the squatting law first.
👍
Harder to squat in a property if you are remodelling it to live there yourself. If you fixing it up for a rental property, but have to wait for everyone around you to fix it up before you can rent it...yeah you got squatting.
. It's still risky even if you're a homeowner. What if you can't move in right away after remodel? (Job situation, international travel, extended hospital stay)? What if you remodel and later have to be absent for an extended period (deployment, or the above reasons)? Pro-squatter laws are always risky for responsible people.
@@jmannii
We don't want foreign folks to own these properties who are going to international travel. These properties aren't meant for you. They are meant for the locals.
You folks can afford to pay full price for the expensive properties you are holding out of reach from the rest of us.
❤Thank you for interviewing knowledgeable, articulate, positive representations of African American women.
Really?
Blah blah blah White people suck is literally the said.
@@lynsylva-bb6ss Really.
The same women who birthed the problems that destroyed the city of baltimore to begin with? Those houses are abandoned because it's better to lose your house than to live around the spawn that destroyed the neighborhood and drove away all the businesses!
Yes, they were beautiful well spoken Black American ladies. I agree with you. Black American.
It's too bad they don't have $1 homes in other areas... you know, anywhere but Baltimore.
Just tear it down and rebuild. The city can do a private-public development.
Who wants to live in a crime ridden area? Even if it's free, I wouldn't move there.
No one want to more next to white supremacist Americans number 1 problem according to Israel good choose black people
Try Detroit
@@Chicago48 Who wants to invest in q place people don't want to live???
If it was even worth a $1.50 , equity firms would be buying them up and reselling them for millions.
They probably set up the program for residents only to prevent that from happening.
Equity firms would want to knock those old houses down and put up a fancy new apartment building. A building nobody in that neighborhood now could afford to live in.
The tenants never seem to take accountability for the state of affairs
Yeah, that lady is totally right you don’t want any people in that neighborhood that can afford to fix up a house.Those houses should be given to the people who spent hard earned decades ruining that neighborhood
Baltimore wants people to buy these homes so the city can have more revenue (taxes, fees). This isn’t a genuine attempt to improve the city because they could do a number of things that would be more helpful - renovate them and sell to locals, spend more money on education/youth employment, address crime, knock houses down and build a neighborhood park/garden. But none of theses things raise tax revenues like selling a home for $1.
City owned properties that are vacant and dilapidated are not generating any tax revenue to pay for community services. The reality is most middle and lower income home buyers are unable or unwilling to secure a major renovation loan, hire a general contractor, and monitor the project until completion. The city would be better off negotiating a sale to a developer who can make a profit but also agree to sell a portion of the renovated properties to a land trust for affordable housing.
Dang for a second I thought I could buy the home for dollar and sell it for $100.
The people who have been the back bone of the city of Baltimore need to get a highly skilled education / job and a good family structure to proceed. No?
Worked for me. 2nd generation African immigrant.
It's a very complicated problem that people often over simplify. I think the easiest way to think of it is an American caste system.
my best guess is that our African immigrant family did not come to America with a negative net worth. It's not that easy for families that have been destitute for generations.
Your parents received housing vouchers and didn’t have to pay a loan. Its not feasible for someone born in America as most banks don’t want to give out loans to A.A
@@GratitudeGriot actually that's not a thing here in the US. Children do NOT inherit their parents debt. But if you mean generations in oppression and poverty, yes, that's what I mean by a caste system. It's so hard for people to escape that
@@fosthedoll My parents did not receive housing vouchers. Try again.
Same thing happened in Harlem/ East Harlem, now those same buildings are worth millions and most minorities are kept out. If you can do it, do it and buy back the neighborhood before you're priced out.
At 250k to remodel. Most people are priced out. The people who have that money. Buy turnkey places in better neighborhoods.
@@primeracalidad8320 FHA 203k allows someone purchase the home and finance the rehab as long as they stay at the residence and it's there primary... Then it's worth 375k+
Well if Harlem is a success with less minorities, than you would think other cities would want to duplicate that! I mean who wants to live around the same group of people who drove the city or area of the city to ruin?
@@johnsmith5028 it's about ownership, it's about not getting priced out by non minorites, they buy it up and then everything goes skyrocket and then they sell. It's about buying your neighborhood back.
@@dymenchuns I understand Your right but at the same time the non minorities drive up the price because they create business and commerce in areas that are food deserts. If the business of the neighborhood is soap, rims and liquor stores the price of the area will remain low, but the crime will likely stay high. I support your efforts the last thing non minorities need is more diversity. I think you feel the same way there needs to be places for all different races to feel comfortable to live. The only way you get what you want is to push for laws that segregate home buyers, I agree it would make things much easier to know you can only move to some areas and not others! I support this 100% from the other side of the city or even the state.
Why is it that people can't see this as an opportunity for the churches and other stack holders in the area to take this to build affordable housing and change the area. Because all we ever hear is the negative, this is a great opportunity take it. I am sure there are grants etc. that can help this happen.
Have you renovated a house in B’more? It’s harder than you think. Depending on the neighborhood. Contractors don’t like having their tools stolen and their workers threatened.
@@mmmaxwell5374 Exactly, it's the people in those areas that drove the previous owners to leave and abandon their house! Who wants to live in an area where cages and steel doors are needed because of the problems the people around there cause?
More Welfare I see
What makes someone the backbone of a city? What exactly would the qualifications be?
Having lived in a similar shithole to Baltimore for almost 20-years, I think they're talking about people who can only work minimum-wage jobs, sit around smoking weed talking how bad they need to get rich, and running away from parenting responsibilities.
The city government is also trying to raise revenue by wooing buyers into covering the back property taxes by offering the property for just about nothing
You spend thousands of dollars only to see your wires and pipes are gone, and then taxes go up the roof. The neighbors will hate you and will start to call the inspectors who in turn will have a hawk's eye on you. Fees and more fees and fees for the other fees.
People won't steal pipes if they are made of plastic (CPVC or PVC or Pex). Wiring needs to be copper though. Most new construction houses are all plastic pipe.
@@Aaron_R In Baltimore people would steal your dirty underwear. I saw people stealing old buildings bricks. Even trees and shrubs in your yard would be stolen. Visit Baltimore and you'll see!
Re-read the part about neighbors hating you. It only takes one trouble maker to cause you a lot of grief.
@@lburg3780 Sometimes out of miscommunication. If I say " Hey bro" to some guy and I'm a different race, the whole neighborhood turns against me. If I set up my trash can outside, the whole neighborhood makes sure to fill it up with their trash, and if I say something, I'm a troublemaker.
Some people out there make sure to let you know that you are not welcome in the neighborhood, without a reason.
I'd buy them for $1 just for the salvage value. There's gotta be something in there worth at least $1.
We all know there's more to this than a $1 free and clear purchase. That's why nobody is jumping fast on this.
Just wait for that first tax bill, you'll be underwater on any scrap metal you pull out of there. plus now that you own the building, the city will be sending you the fines for trash dumped on you property...and that's just the beginning. That why people walked away years ago, even when these homes were somewhat salvageable.
No you will find nothing that hasn't been stripped.
@@automateeverything2341 That's what I was thinking... Is the city going to forgive the back taxes or try to pass them on to the new owners?
"No, we want the people who have been the backbone of this city to live..." That being, people who don't construct or invest in anything and who took off once they degraded the place all the way down to $1. 🙄😒
WHAT I DONT UNDERSTAND IS THIS....
300 HOMES MULTIPLIED BY AT LEAST $90,000
EACH FOR TOTAL RENOVATIONS COMES OUT TO
$27 MILLION DOLLARS.....
AND BALTIMORE CAN'T GET OR RAISE THAT MONEY TO REHAB THESE PROPERTIES THEMSELVES?
WOW....😢
This is the real question. The local government could easily tear down these properties; they're beyond repair. But they and the private firms know better because nobody wants to live there, so they'd rather have regular people do it for them.
Right! They could renovate block by block.
@@lburg3780 The city doesn't want the burden of establishing a construction company so they're asking people to do it. Assuming the homes have to be used as a primary residence (not bought by corporations), it's not a bad idea. At the same time, anybody who doesn't own what they're living in is gonna get moved out once the program catches on.
Who wants to live around the people in those areas, they were the reason the previous owners fled?
They say renovations are $250,000 each.
You’ll probably be responsible for past due violations, past due property taxes and liens. If that doesn’t deter you..Plumbing, electrical and structural
Don't forget..... CRIME. It's a crime ridden area so it's a hard NO for me.
That's the problem. Not to mention old utility bills, etc. The thing could end up being a million dollars when it's all done. No wonder it becomes gentrified. The city should renovate it. But I get it, it would probably get destroyed if it's not owner occupied. That's the entire problem with renting in general. If people don't own something, they don't take care of it.
Don’t forget the ground rent.
To all you naysayers just sit on your asses and wait for your welfare check you are not the people they want in their neighborhoods.
@@michah7214 Amen. Number 1 rule with renters is that they don't own the place and so don't care about it. I've seen it time and again that a rental unit will get trashed/damaged quickly.
The Government passing down what should be they're responsibility... Again
Complain about this or that while the housing is not being repaired or abandoned. Fixing the home is not good enough. The whole community needs to be fixed!
Why hasn't the city invested in these properties and neighborhood DECADES ago??????? That brick architecture is amazing! 😢
Probably hard to get construction/renovation crews to even show up there.
Not hard at all. I invest in Bmore already
That's half the battle. Now, how about you relax some of the onerous regulations for contractors that bring up the price? For example: requiring a certain number of porta potties on site no matter if workers are there or if the bathroom works. Those things aren't cheap to rent. Another example: letting the work continue and waiving the cost if a city inspector misses an appt.
If nobody lives in the house the city shuts off the utilities. That’s why portable toilets. If there’s no tenants or resident owner who would pay the water bill.
There is a saying that if it aint broke, don't fix it..... But the backbone of the city looks crippled long time ago. Why would they think those people will change and take care of a property they couldnt support before?
It looks like the people who are the backbone of the city couldn't even maintain the houses they lived them
Safety is the issue, the main reason why people left , anybody who bought them and use 200k to renovate it should also pay for 24h armed security before paying taxes on the house , dumbest deal ever
Nowhere in that story explains why the buildings are vacant. That's a major red flag.
Drugs and Violence.
this just goes to show you a community without investment crumbles.There are no jobs, there is no housing, nothing. When smart people leave an area, they don't easily return. High taxes, crime, terrible schools, etc are reasons I would never visit much less invest in Baltimore.
Any help or idea for Baltimore is worthy of praise.
That would be big investor setting in big factory or something similar, but security and bureucracy must be improved first.
Smdh can’t with this government
Robocop references everywhere: "I'll buy that for a dollar!"
It will work for rich developers who will circumvent the living in the home rules; just like it did in Harlem. Soon the area will be beautified and the rich will move in. Welcome to what happens when you have drugs, crime and poverty.
Did you even watch the video? This is for people to purchase a home, renovate it and become members of the community. You cannot buy these and flip them. They don't want the people in the area to be priced out. This isn't an opportunity for the wealthy. Drugs and crime happen when there are no opportunities within a community which is intentional. And poor people are not the ones bringing drugs across the border. JS
Well it's either that or empty houses just rotting.
It still will be high crime and rodents
If I were doing this, I'd get together with some people, buy a few houses, renovate them and rent them out to Hispanics who seem to be the main people moving into Baltimore from what I can see.
I’d rather buy the homes in Italy for 1 dollar
Yup. Not a hard choice at all.
But what about the fine cuisine b more has to offer?
If your Back Bone community would have taken care of them they wouldn’t be a dump now.
Its amazing how the city is willing to sacrifice your life by throwing you in a high crime area with no plans to eradicate crime lol
Im confused why they don't tear them down and sell the land. Those homes are not worth the repair costs.
to be honest, that would be the best way to go.
Nobody would touch that land. Would just be an empty lot for decades. I’m fine with the city experimenting to see what works. I doubt this program will be the answer but maybe it will. Let’s see. Beats no action.
City makes more money from taxing a 3 story home vs empty lot
They've torn down some.
If these are close to downtown or fairly close to a booming area, these will be a gold mine in less than 10 years. In Cleveland they put hospital campuses all over the city. Alot depends on city leaders obviously.
These people that are against the program, then how did they became abandoned in the first place? Because no one wanted to buy them. Just let whoever want to buy them buy them and then remodel them.
The wrecking ball would be more appropriate.
i wish i can take a whole block form the city and show them what can i do there....
Here in mass you can buy 6 family cheap which needs total renovation. But city want everything by code and fire sprinkler system alone cost 100-150k lol
What’s the younger lady getting at? Seems like she wants the city to pay for the renovations and then turn it over to City residents for free or something.
That’s what everyone wants. lol Can I have mine on the beach in Santa Monica?! lol
Because that city has been like that for decades, it's definitely the city's problem. That city had issues before she was born.
Exactly that 😂
@@mommimommi2 just because the city is a dump doesn’t mean they should fix up that house and give it to someone for free who already lives there.
@@nathanvanwie643 - No for free, but the city overall has too many blight communities. She's saying that once revitalized, some properties should remain at a reasonable price for the locals to purchase. From what I know, the median income for the residents there is low. The only people able to afford something in a decent area are the elected officials.
Baltimore has amazing water views and Inner Harbor. Yet thousands of houses are empty and this lady is complaining about gentrification. If rich people renovate 100 homes then you still have 900 vacant homes to choose from. People will not invest $100,000 if you add too much red tape. I have a feeling the city is also a landlord and cannot afford maintenance when people do not pay rent.
I wanted to buy one of these homes but when you Google the address and look at the neighborhood it’s a hard no. The city of Newark NJ has a similar plan the renovation budget is your mortgage but you have to be a resident prior to purchase.
Newark is salvageable at least. Nothing can compete with the worse areas of Baltimore.
You spent $100 k.Who rent the house?How much is the property tax then?
Ignorant person here: I got to “visit” Baltimore last year and a lot of the city in a very sad state of dilapidation, there are a lot of very poor neighborhoods here. So many blocks of buildings boarded up and crumbling. Many people living in what appears to be desperation just a drive from the capital of the country.
Why wouldn’t you want gentrification here? Honest question. Wouldn’t gentrification bring in jobs, even service jobs at higher than current wages? Wouldn’t residents want to see piecemeal renovation and revival instead of the continued decay? Wouldn’t seeing improvements be a little bit inspiring and uplifting?
I’m from an impoverished corner of the US, and I have to say a little bit of improvement can inspire more improvement, oftentimes what people see with their eyes becomes internalized, including positive change.
I live in NYC (so I kind of get what it's like in cities) and I have to agree with you. Idk how they are offering homes so affordably and people are still gonna cry gentrification. So you want people to live there or not? And I'd also like to add, despite what some say, not everyone who moves cities is a gentrifier. Only thing I'd say is it'd be nice if they'd allow people to apply for some kind of loan for the renovations because idk how many people have 100k saved up like that.
Baltimore NEEDS gentrification. I’m a black person and live in this city. The blight can only be addressed by WEALTH. We have pockets of decent neighborhoods surrounded by ghettoes. The city needs to invest in letting small businesses rehab these homes into making attractive community hubs. Baltimore can be a NYC. But it wakes up everyday and presses snooze. Also Baltimore city’s population is SHRINKING. I’m sorry but this program ain’t gonna displace anyone.
This young lady makes major points to this program not becoming a displacement project to communities for outside profit....that process ha.s left much of baltimore in shambles.
Democratic Mayors and policies did that .
@@jamesbell2419 the who wasn't in question it's the what and results of such... nevertheless it's been done
@@jamesbell2419 Is there a large city that has been successfully run by Republicans?
Exactly, but they left out the part where you will also incur any lean on said property as well..
No corporate buyers
I should've known it was to good to be true. I had a hot $20.00 burning in my pocket that was about to buy a block like the game Monopoly or Nino Brown....lol
If you're a Black person with even a 500 credit score, you could probably qualify for one of those homes through grants. The "backbone" don't want to do the work, though. They want someone to come in and fix up the place so they can live in them without keeping them up. Those places are crap holes because the residents treat them like crap holes.
My mother bought a house with an attached efficiency that, when my son went in to rehab it and tore it back to the studs, discovered that every inch of the place was built with scrap wood (and probably other scrap materials). The house was built in 1947. I imagine back then that building codes were non-existent in that area. I am wondering if the city could sell the materials from these structures (brick especially) to recoup the money it would take to tear them down. Someone would probably love all that brick for a variety of uses.
Why not just sell all the vacant houses to a few developers and have it done right. Hire the local people and teach them a trade as they fix up their own communities.
I thought there were no homes to buy in america??
These areas are so bad they may as well be another country.
It's a great idea! They should do that in all undesirable areas in the United States. Americans running around moving to Mexico and whatnot for cheaper living when they can still find affordable living in the US. I got my eye on Syracuse NY.
They have these programs throughout the US. It's usually a HUD program.
Poor people have plenty of time to fix these properties up and purchase them for many many years but they've done nothing so let it be gentrified let people with money come over there and beautify the area
This makes economic sense. If a buyer purchases a property for $1, absolutely they need .1 to .2 million to rehab the house. As for those who have a negative opinion, I suggest you come up with a better plan to clear up those vacant units in bmore
Squatters don't even wanna be in them houses 😂
Same thing happened in the 70’s. Developers moved in and the slum houses that existed around the harbor are now going for half million each.
Paying cash for these properties means they don't have to be insured. That is a tough one, since the first thing that happens is teams of renovators come and start tearing the building apart. Wouldn't want workers on my property without insurance. I speculate that the bones of these buildings are termite riddled, and the plumbing and wiring are very old and decayed. While they look very historic, sometimes the effort to put them back together is not worth it in the end. This doesn't even address the roofs. And at the end of all this, renting them out at below market price to appeal to low income families in depressed neighborhoods may not in the end bring enough profit, if any at all, unless they go the Section 8 route. Seems like it's more to get these buildings off the books than to help locals find housing. But never let an opportunity for city self-applaud go by. These kinds of properties are all over depressed areas, and they are a problem, because like old cars that are falling apart, sometimes it's not worth trying to save them. But the city doesn't want to spend the money to tear them down, as there is no return for that. In their day, those buildings were beautiful.
If I had a community in flint I would get a land trust together to purchase a neighborhood and hire private security, then hire a project manager to oversee the renovations.
Snoop and Chris are just Interested
Where are the Black investors who have the money to buy and remodel these homes?
All the money BLM received could have gone a long way to create a better community!
Where are the multi-millionaires and billionaires that could be helping those in forlorn steel and coal communities?
@@eattherich9215 BOO! Your comment is unnecessarily racial and divisive.
@@eattherich9215 You are obviously a bot or troll. I'm learning how you things operate. How you comment on certain topics with the express purpose of causing conflict.
@@onceagain6184stop with the racial card it is overdrawn to the max...such a stupid saying...victimhood is so played out...just stop..
@@sl-te2xh You dummy! The comment wasnt for you and you don't understand the context.
I wonder why they all became abandoned in the first place?
What a great opportunity that could be had if people would put their minds together and think about their future.
The hood ? No way Jose 😂😂
Come on Michael, take a chance. 😊
So the businesses that do real estate can buy them all
I remember this back in the 80s, they did it in butcher hill area, I remember one man from South Africa bought like 3 blocks of the 1.00 homes. He renovated them himself one at a time. But they weren’t as bad as some homes there showing now. It took he like 8 years to get them all renovated. Then he sold some and rented others. Affordable for family with single income was a good dude. There were other that bought homes renovated them there selves, probably only had to put 10k in the home . Them sold them up around 120k to 150k brought the home market price up high in that area
This happened in my Harlem community 25 years ago. It led to gentrification, Clinton and Magic pushing "investment" in the community. Local folks are now priced out unless they were fortunate enough to buy and renovate then. A friend was able to sell her brownstone 5-6 years ago for about 5 mil. If you are young, hard working and resilient enough to deal with waiting for the rest of the neighborhood to level up, it could help be a stepping stone to wealth in the future. I pray for Baltimore to make a comeback