As the Detroit Land Bank works to sell the last three homes in the - TopicsExpress

As the Detroit Land Bank works to sell the last three homes in the program that began in 2011, even some buyers say the costs are outrageous for a bankrupt city. In total, the land bank spent nearly $8.7 million from the U.S. Department of Housing and Urban Development on 30 homes. That’s an average of $290,000 per home, and the 13 most expensive homes cost $300,000 to $537,000 apiece. The return on the investment from sales so far: $2 million. Thoughts?

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