The city of Detroit has been losing it’s population regularly over the past couple of decades. The result has been a glut of housing that has been left behind; empty and abandoned eyesores dotting the city.
Mayor David Bing is now acting on his pledge to clean up these eyesores by tearing them down. The city tried to sell some of the homes for a dollar but that plan did not make an impact. Like most things, without a supply of people to live in these homes, they become worthless.
So the city of Detroit is going to demolish 10,000 of these homes across the city. Good for them. It may allow others homes in the city to stop losing value and stabilize the neighborhoods.
Mayor Dave Bing has pledged to knock down 10,000 structures in his first term as part of a nascent plan to “right-size” Detroit, or reconfigure the city to reflect its shrinking population.
When it’s all over, said Karla Henderson, director of the Detroit Building Department, “There’s going to be a lot of empty space.”
Mr. Bing hasn’t yet fully articulated his ultimate vision for what comes after demolition, but he has said entire areas will have to be rebuilt from the ground up. For now, his plan calls for the tracts to be converted to other uses, such as parks or farms. via the WSJ
I should show this article to my sellers who think their home dropping $100k is bad!
I would buy a house for a buck, but in Detroit, you won't live long enough to fix it up. Detroit is the same toilet its always been. Written by a Michigander who left Michigan more than once for a job, this time I wont' move back.