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The cost of demolishing a home in Detroit

Hampton's Detroit home was set on fire by a former tenant.

dream hampton is a nationally known author best known for "Decoded," her biography on rapper Jay-Z.

How much does it cost to demolish a house? In some cases, it costs more than a house is actually worth; a fact author dream hampton knows all too well.

Hampton’s childhood home in Detroit was recently burned down. Her family bought the home for $17,000 in the late 1970s during "white flight." She said the total cost to tear the house down will be more than $10,000 -- far more than the torched structure is worth.

“I doubt that the house held its value for five years, after that I would say that it only declined in value. At this point, houses in the neighborhood could be bought for $2,500 -- and $2,500 is about what it would take to remove what's almost certainly the asbestos in the house," said Hampton.

Hampton said her thoughts on vacant homes in the city have changed. 

“The vacant houses in Detroit are a huge part of the blight here. And I think that I had judged people who had these vacant homes, landlords who had these vacant homes sitting in all kinds of stages of disrepair. But now I understand how expensive it is to demolish a home.”

Hampton gave us a list of some of what she'll have to pay for:

-Shutting off services like gas, water and electricity

-Dumpsters and landfill space

-Insurance and payroll

-Asbestos removal

Hampton wrote a detailed piece about her childhood home in the Detroit News.

About the author

Kai Ryssdal is the host and senior editor of Marketplace, public radio’s program on business and the economy.

dream hampton is a nationally known author best known for "Decoded," her biography on rapper Jay-Z.

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We demolish about 300,000 houses a year in America, multiply that by $10,000.00 and you get $3 Billion in wasted tax money spent getting rid of houses that homeless families desperately need.

TheJobsMandate org proposes that instead of wasting that money you give those houses to us so we can come get them and give them to people that really need them like victims of storms and disasters. We'll move them and restore them, creating millions of jobs.
300,000 houses given to 300,000 homeless families would add $60 billion to the GDP and take 300,000 families out of poverty and put them back into the middle class, each year. Referring here to the median price of a house in the country at $200,000.00 The number of jobs created doing this type work is estimated by me at 1 million per year.
Now if those people were taken off the public roles from unemployment to SNAP then we would save a $Trillion dollars over ten years.
So this one idea could add $2 trillion to GDP over ten years. Add in the money from subsidies to corporations and millions more would be salaried and the country's debt problem fixes itself in ten years. That's what to do to fix a great many problems this country faces by just using what some consider waste to rebuild us.

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