One in five Detroit homes is in foreclosure and asking prices are dropping to extreme lows. Many in the city question what lies in the future for the struggling city.
"Houses on sale for a few dollars are something of an urban legend in the US on the back of the mortgage crisis that drove millions of people from their homes. But in Detroit it is no myth.
One in five houses now stand empty in the city that launched the automobile age, forged America's middle-class and blessed the world with Motown.
Detroit has been in decline for decades; its falling population is now well below a million – half of its 1950 peak. But the recent mortgage crisis and the fall of the big car makers into bankruptcy has pushed the town into a realm unique among big cities in America."
But while homes sell for just a few dollars and desperate homeowners set fire to their houses to try to claim insurance money, some retain hope for a type of revival in the city.
FULL STORY: Detroit homes sell for $1 amid mortgage and car industry crisis
How Risky Lending Hollowed Out Detroit
Over one half of Detroit's foreclosed homes are blighted or abandoned. Buyers who purchased the homes for as little as $1 have little incentive to keep them in good shape—or pay taxes.
In Detroit, Continuing the Legacy of Land Banks
While the Detroit Land Bank has had its ups and downs, it has made significant progress in a city with no shortage of vacant and delinquent properties.
A Stark Visualization of Detroit's Tax Mess
A Detroit-based maker of "crowdfunding and social mapping systems," has developed an interactive map of the tax status of every property in Detroit. In bright yellows, oranges, and reds, the city's property tax "black hole" is brutally clear.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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