The Ruins of Capital

Comments

uh oh.....

WASHINGTON DC (AP) — Weekly applications for U.S. unemployment benefits jumped 46,000 last week to 388,000, the highest in four months.

on October 18, 2012 at 9:40 AM

Buildings that are left in ruin and aren't removed can be valued both economically and in standard accounting terms to have negative value. Capital could and would remove them if the land offered enough of a positive economic opportunity to offset the demolition cost. I quibble because I like you, Charles. Nice post.

David from Chicago on October 18, 2012 at 10:12 AM

SQUAT.....Community...Rave....art....freee space.... TAKE IT!!!

pupuguru on October 18, 2012 at 10:15 AM

$$$?

Charles,
your review of Detropia is excellent.

I was just in Detroit (they're opening a branch of the Patent Office there). I was surprised to see abandoned sky-scrapers, even. Were I to move there, my government salary would go far compared to the DC area. I just found the place depressing, so it probably won't happen.

Sandiai on October 18, 2012 at 10:52 AM

most of the value of your property in Seattle is the land, not the house.

you can buy a replacement house for about $20,000 to $40,000, actually.

Maybe not an ultra-fancy one, but way better than your parents had.

Will in Seattle on October 18, 2012 at 11:51 AM