Detroit May Go from Manufacturing to Farming

To follow up on a story we reported March 7, HousingWire reports Detroit has so many vacant houses it will bulldoze full blocks and turn the property into urban farming.  Stephen Bancroft, executive director of the independent think tank Detroit Office of Foreclosure Prevention and Response (DOFPR), said once a house is vacated, it immediately gets stripped and becomes blight.  The loss of automobile manufacturing that led to high unemployment and high crime coupled with the housing crisis has led further to declining population and more abandoned homes.  Mortgage servicer Sam Bready said his company tries to keep the homes occupied by making the payments affordable, but they do not always own the loans, so their ability to keep homes occupied can be restricted.

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