A nice place to live

According to finance/economics blog Carpe Diem, you can buy this house in Detroit:


for $1,500-- a $7 mortgage payment every month. Nice. What say we all buy neighbouring houses, tear them down, and create some kind of utopian skate park/art installation/abandoned pet refuge/50s diner? Ooh, with a giant drive-in style movie screen! Internets? Any takers?