Streams

Buffalo Abandoned Homes Selling For $1

Tuesday, August 19, 2014

Like many cities, Buffalo, New York, is facing a glut of abandoned homes and lots. There are roughly 16,000 vacant lots and 4,500 vacant homes throughout the city.

Instead of tearing the homes down, city officials are selling them for $1. They’re calling it the Urban Homestead Program. The program requires that residents have the ability to make necessary repairs, and commit to living in the home for at least three years.

Here & Now’s Jeremy Hobson speaks to Mike Puma, who bought one of the homes and is fixing it up.

Guest

  • Mike Puma, Buffalo resident who bought one of the $1 houses. He’s also a project manager for Preservation Studios, a historic preservation consulting firm.
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Source: NPR

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Comments [3]

Dan Parietti from Manhattan

Glenn's comment corroborates an adage: as a buyer, you need to do "hands on" management to make sure that the work gets done. I would not get involved in anything like this unless I was going to make the time commitment in the local area. Otherwise, put the money in an index fund and take your chances there.

Aug. 22 2014 11:00 AM
wahiba benslimane from bellevue

I would like to buy house in buffalo abandoned home with 1$
what I have to do send my all information
Thank you

wahiba

wahibaben@hotmail.com

Aug. 21 2014 05:38 PM
Glenn

In the early 90's, Milwaukee had the same program. You paid 1$ for a home, had 2 years to bring it up to code, and the title was given to you upon "sign off". I worked for a city/UW/state/Fed. Program teaching young adults basic construction skills, Milwaukee had a large inner city. Myself and another team leader, figured out that the top 4 office managers were stealing materials, and using the students to remodel thier 1$ homes. I overheard Tom, tell Del, "I just sold mine, already!! I'm transferring out of Milwaukee in 2 weeks.!" All in the name of helping ghetto kids learn a useful trade.

Aug. 20 2014 12:51 AM

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