Category: Homeownership

Optionality and anti-optionality: Part 1, reward later or reward now?

25 July, 2014 (09:36) | Banks, Economics, Finance, Foreclosure, Homeownership, Housing, Lending, Loans, Optionality, Rental, Saving, Theory, US News | No comments

By: David A. Smith Money is a claim check on other people’s products and services. – Warren Buffett Once a month, Mrs. Guggenheim sends the bank the same amount of money.  Darling, if you have to ask the price, you can’t afford it Is she saving for herself, or repaying a debt? Either way, her […]

Block by block

23 May, 2014 (10:40) | Auctions, Bankruptcy, Cities, Detroit, Homeownership, Housing, Markets, Municipal bankruptcy, Theory, Uncategorized, urban homesteading, US News |

 By: David A. Smith For all the pixels burned crying panic at the possibility of Detroit filing bankruptcy, for all the specious unfounded blather that municipal bankruptcy was illegal, couldn’t possibly do good and would instead do incalculable harm, so far everything that has happened since Detroit filed has been good … but practical progress sells […]

Robinson Crusoe in Detroit: Part 3, We march out against the cannibals

21 May, 2014 (10:56) | Bankruptcy, Cities, Crime, Detroit, ED4ED, Finance, Homeownership, Housing, informality, Infrastructure, poletown, Renovation, Uncategorized, urban homesteading, Urban Renewal |

[Continued from yesterday's Part 2 and the preceding Part 1.] By: David A. Smith Halfway through our tale of urban Robinson Crusoe Drew Philip, whose journal of his modern economic plague years was published on Buzzfeed (January 9, 2014), he had bought his house (for $500 at auction) and was investing hours and days of his labor […]

Robinson Crusoe in Detroit: Part 2, I build my fortress

20 May, 2014 (10:33) | Bankruptcy, Cities, Crime, Detroit, ED4ED, Finance, Homeownership, Housing, informality, Infrastructure, poletown, Renovation, Uncategorized, urban homesteading, Urban Renewal |

[Continued from yesterday's Part 1.] By: David A. Smith In yesterday’s post, adapted from his Robinson-Crusoe-esque tale published on Buzzfeed (January 9, 2014), urban pioneer Drew Philip had decided to cast his lot with troubled Detroit, and was looking for a home to buy.  4. The risks of homesteading Poletown, before I-94, and before eminent domain […]

Robinson Crusoe in Detroit: Part 1, I go to sea

19 May, 2014 (10:30) | Bankruptcy, Cities, Crime, Detroit, ED4ED, Finance, Homeownership, Housing, informality, Infrastructure, poletown, Renovation, urban homesteading, Urban Renewal |

By: David A. Smith “I was born in the year 1632, in the city of York, of a good family, though not of that country.” ― Daniel Defoe, Robinson Crusoe Urban homesteader Drew Philip has written an engaging and inspiring story of his urban homesteading in a largely abandoned part of Detroit, published on Buzzfeed (January […]