UM: Foreclosures

Reuters reports on foreclosures in Detroit and notes that a tax foreclosure auction last week failed to sell more than 80% of the parcels. The article quotes Margaret Dewar, a UM professor of urban planning, who studied government foreclosure sales in Flint and Detroit and found that “land bank”-style transactions were a better alternative. Says Dewar: “The results are better when there is a more deliberate process.” [Source]