The Strong Towns Podcast

When it comes to housing, Detroit's struggles could be seen as a portent of things to come for other parts of America. Over the past fifteen years, one in three properties in the city have entered into tax foreclosure auctions, with speculators "milking" foreclosed homes for however much money they can get in the short-term, all while letting the property deteriorate. Meanwhile, residents of the home (either the owners themselves or renters) face the possibility of eviction. The ultimate cost for the city in dealing with these poorly maintained homes—not to mention losing population, homeownership, and tax generation potential—comes out to more than if property taxes had simply not been collected from the homeowners. "If the economics are what you want, you cannot say that there is not a far better economic equation to keep people in their homes and collect zero dollars in property taxes for them," says Alex Alsup, director of the Detroit-based Rocket Community Fund, "Preserve those properties, preserve that