No wonder it's a $1...it'll cost 180k to rehab, plus u gotta pay the back taxes on it, and u will get taxed for the real value of the home after the rehab. Why won't the city just rehab them and list them as hud homes for moderate earning first time buyers or section 8?
Because they want to defer responsibility to the property owner. A property to them is something that generates revenue. They have no want or incentive to put city money into it because that would be a loss in their book
No sensible investor. In order for it to be practical the rents would have to recoup investment and generate profit in a reasonable amount of time. Rent would have to be really high, and unless there are diverse and abundant employment opportunities nobody would be able to afford it. Nobody is coming to rescue these places
Btw this is happening all over the US, not just Kansas City. All over cities have these near "free" homes. The guy at the end is lying to himself about these becoming quaint little communities. These places are too far gone. Just build some overpriced trendy restaurants, sports bars that serve craft beer, and loft apartments downtown. That'll attract the young people!! Oh wait....they tried that
Totally, these houses are deep in the worst ghettos, why would trendy people with jobs live here. 40-60 years ago was a completely different area, the couples used to live here are probably not on earth now lol.
@@MidwestBrother that's where young, trendy people always want to live... in the ghettos. That's why you don't hear of revitalizing projects in the abandoned coal towns of West Virginia. Gentrifiers love New Orleans, Brooklyn, Detroit, Oakland, etc.
Very interesting stuff. Thank you for this insight into the housing situation in KC!
Thanks for watching! We're trying our best to show all sides to the affordable housing issues in Kansas City.
No wonder it's a $1...it'll cost 180k to rehab, plus u gotta pay the back taxes on it, and u will get taxed for the real value of the home after the rehab. Why won't the city just rehab them and list them as hud homes for moderate earning first time buyers or section 8?
Because they want to defer responsibility to the property owner. A property to them is something that generates revenue. They have no want or incentive to put city money into it because that would be a loss in their book
Great information 🍻🍿
Who buys and rehabs? Do they collect ANY rent?
No sensible investor. In order for it to be practical the rents would have to recoup investment and generate profit in a reasonable amount of time. Rent would have to be really high, and unless there are diverse and abundant employment opportunities nobody would be able to afford it. Nobody is coming to rescue these places
Land bank is a waste of time.
Why?
Any program trying to get you into housing can't be a waste of time, people need to be more appreciative of these programs
Free stuff for the victim status that you choose❤
Btw this is happening all over the US, not just Kansas City. All over cities have these near "free" homes. The guy at the end is lying to himself about these becoming quaint little communities. These places are too far gone. Just build some overpriced trendy restaurants, sports bars that serve craft beer, and loft apartments downtown. That'll attract the young people!! Oh wait....they tried that
Totally, these houses are deep in the worst ghettos, why would trendy people with jobs live here. 40-60 years ago was a completely different area, the couples used to live here are probably not on earth now lol.
@@MidwestBrother 😮
@@MidwestBrother that's where young, trendy people always want to live... in the ghettos. That's why you don't hear of revitalizing projects in the abandoned coal towns of West Virginia. Gentrifiers love New Orleans, Brooklyn, Detroit, Oakland, etc.
Drug house?