The article discusses the popularity of foreclosed homes at Wayne County in Detroit, Michigan to speculators from the U.S. and abroad. It notes that county's tax-delinquent property auctions have already sold 10,461 of the 18,897 Detroit properties. According to Alan Mallach, senior fellow ...
class action attorneys targeted Wayne County and other Michigan counties seeking to profit off former tax-foreclosed property owners. These attorneys settled with Oakland County in 2022, taking over $13 million of a $38 million settlement while property owners received only $12 million. Some of the...
It looks like someone is willing to invest inDetroit—though who that person is remains a mystery. An auction in Motor City of more than 6,000 foreclosed properties found an unidentified bidder who has offered $3.2 million for the buy,Bloomberg Businessweek reports. The offer meets the minimum...
There are two dominant Detroit narratives being told today. One is of the once-great city fallen: the grand, empty buildings choked with rubble like Michigan Central Station and the Packard plant, far from adequate police forces, and acres of foreclosed homes. The other is of a resurgent utop...
"Detroit is the hottest thing happening," says city native Jasmine McMorris, who has purchased 332 homes in the past two years for an average price of $2,500. She's rented some at a profit while selling others to investors as far away as Australia and Cambodia. "No place else can I...
JEFF KAROUBCOREY WILLIAMS