“In Detroit, land contracts outpace all other types of lending instruments for housing. … These instruments are incredibly flexible and allow for the possiblity of homeownership, but that flexibility also offers a lot of opportunity for exploitation.” In late December, Urban Praxis’ Josh Akers was the guest on Wade’s World, a weekly broadcast on KABFContinue reading “On Speculation and Organizing”
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.