久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

US EUROPE AFRICA ASIA 中文
Opinion / Web Comments

Home truths concerning Detroit's cheap housing

By Harvey Dzodin (chinadaily.com.cn) Updated: 2013-05-02 16:33

Faced with sky-rocketing real estate costs in China, a recent CCTV report about the availability of houses in my birthplace, Detroit, for as little as one dollar has generated frenzied interest among Chinese investors and wannabe real estate moguls. Let me offer two Latin words of caution: caveat emptor, let the buyer beware. In other words, if it sounds too good to be true, it probably is.

The CCTV broadcast generated more than a million Weibo postings. And as a result, thousands of would-be Chinese Donald Trumps have expressed an interest in going on a property buying tour of the Motor City.

Making money in Detroit real estate could indeed be possible but requires the patience of a Warren Buffet or the biblical Job, not to mention the personality and trappings of Rambo. It's not for the thin-skinned or the faint of heart.

Even though Detroit has recently been declared bankrupt, it's been a basket case for decades. I was there last month and it's like a patient on life-support. Surrounded by pleasant suburbs, the city of Detroit is the prototypical decayed American urban area: a doughnut (suburbs) with a hole (Detroit) in the middle.

When I was growing up, Detroit was a prosperous place and had the country's largest per-capita income. Back then it was the fourth largest US city but nearly two-thirds of the population has fled, making it 18th. It was the center of the Michigan universe but has ceded the center to more dynamic cities like nearby Ann Arbor.

According to Forbes magazine Detroit is the most dangerous city in America. The murder rate is 11 times that of New York. Not too long ago, the rate of self-defense killings in Detroit was 2,200 percent above the national average. Last year the FBI found that Detroit had the highest rate of violent crime of any US city with more than 200,000 people. And because of its severe financial problems, the number of police in Detroit has decreased by 50 percent in the last decade. It's gotten so bad that last year the Detroit Police Officers Association warned: "Enter Detroit at your own risk".

Still interested in investing?

Owning property anywhere is no picnic; it's not like buying a stock or bond and following the price in the newspaper or online. It's very hands-on and a 24/7/365 responsibility.

In Detroit, being a landlord, or dare I say "slumlord", is even more challenging. Add to the cost of the house hundreds or thousands of dollars a year in taxes and that's after doing renovations as most of the houses are naked and stripped shells devoid of anything valuable. And those are the lucky properties that weren't set alight by gangs, drug dealers and other miscreants, especially on Detroit's infamous Devil's Night, a time around Halloween, when the local sport is burning down abandoned houses. Since the police force is stretched so thin, add another few hundred dollars or more for private security. We call them "rent-a-cops!"

To be honest, there are a few positive signs. I have a high school friend, now a successful lawyer, who swears that Detroit is on the verge of a comeback and he is not completely alone.

While prices are below the level of the year 2000, last year there was a 13.6% annual increase. Some hearty souls are indeed renovating blighted areas and establishing art galleries, boutiques and even some major service businesses. And in an ironic twist, because Detroit has more vacant land than it had a century ago, urban farming, with an emphasis on organic vegetables, is a major business category in the city.

Chinese people might actually like some aspects of Detroit area living. Outside the city there are beautiful beaches and parks. Canada is a few minutes drive away.

Detroit is the Las Vegas of the Great Lakes region. While lacking the glitz of its famous cousin, the area sports four new casinos.

I worry, however, about Chinese investing in places like Detroit if they behave like slumlords and segregate themselves into an hermetically-sealed Chinese enclave. Detroit has a sad history of racial tension that has boiled over into large-scale civil insurrections.

This will not only harm individuals but further weaken China's image. Only a few months ago President Barack Obama and would-be President Mitt Romney were bashing China for sucking jobs out of the local economy. Insensitive and insular Chinese investors could further weaken what remains of China's positive soft power as has recently been the case in nearby Toledo, Ohio, another Chinese investment target.

Still want to invest? Good luck!

The author is a senior adviser to Tsinghua University and former director and vice-president of ABC Television in New York.

Most Viewed Today's Top News
Home prices give the lie to notion of better future
...
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    色综合久久久久网| 91精品国产综合久久小美女| 亚洲视频一二区| 一本久久精品一区二区| 亚洲最色的网站| 91精品国产全国免费观看| 久国产精品韩国三级视频| 国产清纯美女被跳蛋高潮一区二区久久w| 国产成人av一区| 亚洲麻豆国产自偷在线| 欧美剧情片在线观看| 精品中文av资源站在线观看| 欧美国产精品一区二区| 91久久久免费一区二区| 免费人成黄页网站在线一区二区| 久久先锋资源网| 91亚洲男人天堂| 丝袜美腿一区二区三区| 久久久久久久久99精品| 一本在线高清不卡dvd| 日韩高清电影一区| 欧美国产精品一区| 欧美三级中文字幕在线观看| 狠狠色丁香婷婷综合久久片| ...xxx性欧美| 欧美电影免费观看高清完整版在线观看 | 秋霞国产午夜精品免费视频| 国产拍揄自揄精品视频麻豆| 欧美四级电影在线观看| 国产美女精品人人做人人爽| 亚洲九九爱视频| 久久综合九色综合欧美就去吻| 91香蕉国产在线观看软件| 日韩av电影天堂| 国产精品国产自产拍在线| 制服丝袜av成人在线看| 成人免费av在线| 日本一区中文字幕| 一色屋精品亚洲香蕉网站| 欧美一级理论性理论a| 成人黄色综合网站| 奇米精品一区二区三区四区| 亚洲日本在线a| 精品国产一区二区亚洲人成毛片| 91高清视频免费看| 国产成人在线免费观看| 日韩二区三区在线观看| 亚洲欧美另类在线| 久久久国产精品午夜一区ai换脸| 欧美剧情片在线观看| 99视频在线观看一区三区| 韩国一区二区三区| 午夜精品久久久久久久久久久| 国产精品乱人伦中文| 欧美v日韩v国产v| 91精品办公室少妇高潮对白| 国产成人免费在线| 美女免费视频一区二区| 亚洲图片自拍偷拍| 亚洲欧洲日产国码二区| 国产亚洲欧美激情| 日韩一级黄色大片| 欧美色精品在线视频| 99久久99精品久久久久久 | 欧美日韩高清在线播放| eeuss影院一区二区三区| 国产精品影视网| 蜜臀av一区二区| 午夜a成v人精品| 亚洲日本va午夜在线电影| 久久久久久久国产精品影院| 欧美一区二区精品| 欧美人伦禁忌dvd放荡欲情| 一本色道亚洲精品aⅴ| 成人av午夜电影| 国产成a人亚洲精| 国产自产高清不卡| 轻轻草成人在线| 亚洲图片欧美视频| 一区二区三区av电影| 亚洲欧洲综合另类| 中文字幕色av一区二区三区| 欧美激情中文不卡| 久久九九99视频| 久久久久国产精品免费免费搜索| 精品久久久久久久久久久久久久久久久 | 午夜精品久久久久久久99水蜜桃 | 日韩福利电影在线观看| 午夜电影一区二区三区| 亚洲线精品一区二区三区 | 国产成人啪午夜精品网站男同| 久久99久久精品欧美| 伦理电影国产精品| 毛片av中文字幕一区二区| 日韩高清不卡一区二区三区| 石原莉奈在线亚洲三区| 五月开心婷婷久久| 亚洲成av人片在线| 亚洲成人免费电影| 亚洲成va人在线观看| 午夜成人在线视频| 日精品一区二区| 免费观看30秒视频久久| 蜜桃视频在线观看一区| 美女网站一区二区| 精品伊人久久久久7777人| 精品一区二区三区久久| 国产精品一区三区| 成人美女在线观看| 99精品视频一区二区三区| 色综合天天综合网天天狠天天| 91丝袜美腿高跟国产极品老师| 色天使久久综合网天天| 欧美视频在线观看一区二区| 欧美精品xxxxbbbb| 日韩欧美综合在线| 国产日韩综合av| 亚洲欧美在线高清| 亚洲在线成人精品| 日产欧产美韩系列久久99| 久久成人麻豆午夜电影| 国产suv精品一区二区883| 成人av资源在线观看| 色爱区综合激月婷婷| 欧美日韩一级二级三级| 日韩三级精品电影久久久| 国产亚洲精品aa| 亚洲男人天堂av| 天堂蜜桃91精品| 九九**精品视频免费播放| 国产成人精品aa毛片| 色婷婷综合在线| 欧美久久一二区| 久久综合久久久久88| 亚洲天堂2016| 视频在线观看国产精品| 国内精品不卡在线| 91美女片黄在线观看91美女| 4438x成人网最大色成网站| 久久亚洲私人国产精品va媚药| 1区2区3区欧美| 亚洲成人免费av| 国产精品系列在线播放| 日本道色综合久久| 精品美女一区二区| 亚洲视频在线观看三级| 日本午夜一本久久久综合| 成人综合婷婷国产精品久久免费| 91国产成人在线| 久久综合色一综合色88| 亚洲欧美日韩国产中文在线| 蜜臀av性久久久久av蜜臀妖精| 成人午夜短视频| 欧美军同video69gay| 中文字幕成人网| 天堂久久一区二区三区| 成人网男人的天堂| 欧美精品免费视频| 日本一区二区视频在线| 午夜欧美视频在线观看| 国产成人午夜片在线观看高清观看| 在线观看一区日韩| 国产午夜精品福利| 亚洲成人资源在线| 成人开心网精品视频| 欧美一卡在线观看| 亚洲视频一区在线| 国产一区91精品张津瑜| 欧美三级韩国三级日本一级| 久久久精品国产99久久精品芒果| 亚洲一区二区精品视频| 国产成人综合网站| 欧美一区二区三区免费大片 | 成人黄色在线网站| 精品少妇一区二区三区| 一区二区三区精品| 国产成人免费视频一区| 777亚洲妇女| 成人免费视频在线观看| 国产一区视频导航| 欧美精品电影在线播放| 亚洲色图在线播放| 国产一区二区不卡在线| 欧美精品免费视频| 亚洲精品日韩一| 国产一区二区调教| 这里只有精品99re| 一区二区三区四区不卡视频| 国产成人99久久亚洲综合精品| 欧美一级久久久| 亚洲午夜一区二区| av网站免费线看精品| 久久人人超碰精品| 日韩高清不卡一区二区三区| 欧美综合一区二区| 中文字幕一区二区三区精华液| 国产一区二区三区免费看| 日韩一级大片在线观看| 丝袜亚洲另类欧美综合| 欧美影视一区在线|