PropertyProf Blog

Editor: Stephen Clowney
Univ. of Kentucky College of Law

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Monday, September 9, 2013

Detroit Will Pay to Take These Houses

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The Business Insider reports:

Mayor Dave Bing is trying to save Detroit by offering incentives to lure residents back to abandoned neighborhoods.

One program offers $150,000 in housing renovation money and requiring only $1,000 down to police officers who are willing to relocate to the city. Another offers college graduates $2,500 to rent and $20,000 forgivable loan to buy properties.

Potential home buyers can choose from plenty of cheap or free homes, especially in the blighted neighborhoods of Woodward Ave. and Brush Park.

Steve Clowney

http://lawprofessors.typepad.com/property/2013/09/detroit-will-pay-to-take-these-houses.html

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Comments

I believe this is an awesome idea. Are there any incentives for those who are not graduates or police officers? What are the incentives if a graduate want to buy as opposed to rent?

Posted by: Candace Baker | Sep 30, 2013 3:44:50 PM

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