Comments on: Pontiac Silverdome Sold for Less Than a House http://www.consumerismcommentary.com/pontiac-silverdome-sold-for-less-than-a-house/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Thu, 31 May 2012 17:59:20 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: wylerassociate http://www.consumerismcommentary.com/pontiac-silverdome-sold-for-less-than-a-house/comment-page-1/#comment-252127 wylerassociate Thu, 24 Feb 2011 05:40:46 +0000 http://www.consumerismcommentary.com/?p=7574#comment-252127 As someone who grew up in metro detroit, I can give some insight. The Pontiac Silverdome is owned by the city of Pontiac, so when the detroit lions left for downtown detroit in 2002 the city should have sold the property and turned it into an industrial complex to encourage more businesses to grow/relocate and add jobs. But the worthless mayor and city council wanted kickbacks from prospective buyers and the silverdome was used for drive in movies and other nonsense. It's no surprise that Detroit and Pontiac are such warzones with high unemployment, horrible schools, high crime rates and million dollar budget deficits. As someone who grew up in metro detroit, I can give some insight. The Pontiac Silverdome is owned by the city of Pontiac, so when the detroit lions left for downtown detroit in 2002 the city should have sold the property and turned it into an industrial complex to encourage more businesses to grow/relocate and add jobs. But the worthless mayor and city council wanted kickbacks from prospective buyers and the silverdome was used for drive in movies and other nonsense. It’s no surprise that Detroit and Pontiac are such warzones with high unemployment, horrible schools, high crime rates and million dollar budget deficits.

]]> By: Strider http://www.consumerismcommentary.com/pontiac-silverdome-sold-for-less-than-a-house/comment-page-1/#comment-200236 Strider Sun, 22 Nov 2009 23:33:06 +0000 http://www.consumerismcommentary.com/?p=7574#comment-200236 Given that several homes in the "Murder City" have sold for $1, Pontiac should consider itself lucky. As for the whiners suing to block the sale, they couldn't even scrounge up the $250K auction deposit. Given that several homes in the “Murder City” have sold for $1, Pontiac should consider itself lucky. As for the whiners suing to block the sale, they couldn’t even scrounge up the $250K auction deposit.

]]> By: jammer(six) http://www.consumerismcommentary.com/pontiac-silverdome-sold-for-less-than-a-house/comment-page-1/#comment-200207 jammer(six) Sat, 21 Nov 2009 01:45:58 +0000 http://www.consumerismcommentary.com/?p=7574#comment-200207 I'd like to buy it and turn it into a huge paintball arena. :-) I’d like to buy it and turn it into a huge paintball arena. :-)

]]> By: Tom Dziubek http://www.consumerismcommentary.com/pontiac-silverdome-sold-for-less-than-a-house/comment-page-1/#comment-200204 Tom Dziubek Fri, 20 Nov 2009 21:06:34 +0000 http://www.consumerismcommentary.com/?p=7574#comment-200204 Imagine the kind of party you could throw in there. Imagine the kind of party you could throw in there.

]]> By: Jim http://www.consumerismcommentary.com/pontiac-silverdome-sold-for-less-than-a-house/comment-page-1/#comment-200132 Jim Wed, 18 Nov 2009 19:09:19 +0000 http://www.consumerismcommentary.com/?p=7574#comment-200132 But I'm not really surprised at the low sale price. Pontiac is 30 minutes from Detroit. Detroits economy is in horrible shape. They had an auction of 100's of foreclosed houses in Detroit and a lot of them failed to sell for even the $500 minimum bid. Of course most of those houses that didn't sell were in horrible shape. Maybe the stadium needs tons of major repairs and maintenance work? If it would cost say $10M to renovate the place to get it into shape then I could see it being sold for next to nothing given the state of the local economy. But I’m not really surprised at the low sale price. Pontiac is 30 minutes from Detroit. Detroits economy is in horrible shape. They had an auction of 100′s of foreclosed houses in Detroit and a lot of them failed to sell for even the $500 minimum bid. Of course most of those houses that didn’t sell were in horrible shape.

Maybe the stadium needs tons of major repairs and maintenance work? If it would cost say $10M to renovate the place to get it into shape then I could see it being sold for next to nothing given the state of the local economy.

]]> By: Erica Douglass http://www.consumerismcommentary.com/pontiac-silverdome-sold-for-less-than-a-house/comment-page-1/#comment-200128 Erica Douglass Wed, 18 Nov 2009 16:34:48 +0000 http://www.consumerismcommentary.com/?p=7574#comment-200128 Maybe they intend to rezone it and use it for a different purpose? Either way, a hell of a deal. -Erica Maybe they intend to rezone it and use it for a different purpose? Either way, a hell of a deal.

-Erica

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