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RE: Quicken Loans' Detroit land grab was made possible by the Obama administration
a scheme to make urban land viable (after government-funded demolition) and then available to real estate moguls like Gilbert at rock-bottom prices, all in the name of “redevelopment.”
So a "scheme" to make Detroit into a viable place through redevelopment is bad, I see, much better to let it continue to be half abandoned rotting houses that they can't even sell for a dollar.
It becomes a scheme when the government is the one funding the work that the real estate developer should be investing in, himself.
should be? why should they invest in blighted areas at a loss?
it makes sense for the government to bulldoze abandoned buildings and then sell off the lots to developers so they can actually build things on them that will not be abandoned and collect revenue from the properties instead of losing money on them. It's a win/win.