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I agree that throwing money into tax auctions every three years is a band-aid. However, there is certainly an 8-figure opportunity here for whoever can come up

I agree that throwing money into tax auctions every three years is a band-aid. However, there is certainly an 8-figure opportunity here for whoever can come up with a more permanent solution. Perhaps instead of paying $500 each to boot out poor grandmas to the streets, some low-income apartments could be built for those grandmas based on the expected values of flipping their houses and a govt tax break promise.

tedunangst 12y ago
The upside for a flipped home in Detroit is about zero. There's a reason these homes are (barely) selling for $500. And buying a home for that and booting granny is a lot cheaper than building granny a new apartment. Not sure where the eight figure upside is going to come from.