About this episode
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 tax base. It's clearly a far better option." This week on the Strong Towns Podcast, Alsup talks with Strong Towns president Chuck Marohn about Detroit's past and present in regard to housing. Alsup is the director of housing stability at the Rocket Community Fund , an organization that is working to keep people in their homes in Detroit by helping them to navigate issues like completing exemption applications, or, in the case of tenants, assuming ownership if foreclosure proceeds on the property they're occupying. It's work that other communities in the country should be paying attention to. After all, as former Detroit mayor Coleman Young put it, "Detroit today has always been your town tomorrow."