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.
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Speculation and the City “It’s not a bug, it’s a feature.”
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.