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4643 Balfour - Photo via the Detroit Land Bank

New Second-Mortgage Program Could Be A Game Changer For Detroit

Many of Detroit's homes are in need of substantial rehabilitation. Once rehabbed, however, the weak housing market there means they are often appraised for less than the value of the home and the repairs. This creates an “appraisal gap,” which has been holding back the city’s housing market recovery. Last week, Detroit’s Mayor Mike Duggan unveiled the Detroit Home Mortgage …

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From The Archives

Allow Me To Freak Out About $400K Homes In My Old Detroit Neighborhood

I last spent time in Woodbridge Farms, my old neighborhood, last fall, when I joined some coworkers to plant trees with crews from the Greening of Detroit. And I wrote about what I saw and how it illustrated the dramatic and jarring ways that Detroit is changing. But nothing quite prepared me for this. A developer team …

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