From 2011 to 2015, about 100,000 properties — more than a quarter of the Detroit lots — were auctioned in tax foreclosures, according to Regrid, a Detroit-based provider of parcel data nationally.
(Speculators recently made money after the city bought out vacant lots to help revive an auto plant that would bring jobs to the area.)
Mr. Allen said his main project at the agency was finding new ways to stimulate growth that didn’t rely on grants and tax breaks.
After reading “Progress and Poverty” years earlier, he’d become obsessed with the problem of speculation, and suggested a land-value tax.
A tax break for residents — paid for by nameless investors who are “taking advantage of the city” — would seem like a political layup.
Persons:
Duggan, Nick Allen, Allen, he’d, Henry George, —
Organizations:
Massachusetts Institute of Technology, Mr, Poverty
Locations:
Detroit