Originally posted on DETROITography:
History is the most crucial context of any city. In thinking about the “lifecourse of place,” or the evolution of a particular geography over time, socio-demographics provide deep insight. Detroit’s Black community was restricted in where they could legally purchase housing, so there had long been a concentration of Black households…
Speculators have remained a consistent part of Detroit’s bankruptcy and post-bankruptcy stories.
The line between speculation and investment can seem arbitrary. In fact, some of the largest speculators in the city of Detroit often characterize their activities as investment.
University of Michigan Dearborn – Press Release
A new research project claims that property speculation has become rampant in Detroit. We spoke to UMich professor Josh Akers about his website, called Property Praxis, and why speculation is bad for his city.
Property speculators own nearly 20 percent of all property in Detroit. The parcels caught up in this web of speculation are spread across the city and come in a variety of forms. At their worst these owners are buying and selling houses that rapidly decline into vacant and abandoned shells.
Urban Praxis