GrandTheftVideo.com

People Are Making Big Money Kicking Detroit Residents Out Of Their Homes (HBO)

In the last 15 years, one in three Detroit properties have been foreclosed on. When most people think of foreclosure, they think of people who can’t afford to pay off their mortgages.

But in Detroit, it’s often the result of people struggling to pay their property taxes. One big reason is that, in the years after the Great Recession, the city went bankrupt and failed to lower property assessments far enough to account for the impact of the housing crisis. While the value of residents’ homes fell, their taxes remained inordinately high, and tens of thousands of people fell so far behind on their inflated tax bills that the county seized their homes and sold them off at annual auctions.

In recent years, the city and county have lowered assessments and offered reduced interest rates to some homeowners. But they have no plans to stop punishing those who were overcharged in the past.

VICE News followed this year’s tax foreclosure auction and investigated how the county financially benefits from the process. As Detroit touts its comeback and celebrates its success in climbing out of the largest municipal bankruptcy in American history, many of the city’s residents remain on the brink of displacement.

This segment originally aired December 7, 2017, on VICE News Tonight on HBO.

Subscribe to VICE News here:

Check out VICE News for more:

Follow VICE News here:
Facebook:
Twitter:
Tumblr:
Instagram:
More videos from the VICE network:

27 thoughts on “People Are Making Big Money Kicking Detroit Residents Out Of Their Homes (HBO)

  1. So let me get this straight the city robs you of your money and then the county robs you of your home, do I have that right! Why isn't the city footing the bill for the interest owed to the county on the overtaxed property! And why is the county allowed to collect interest on money that should not have been taken from the owner of the overtaxed property! Am I the only one who sees that this is a big fucking scam?

  2. To keep the government supplied with operating funds, the people must be stripped of their homes. Then, the government raises their operating expenses because they have the money from displacing home owners. It is a vicious cycle with no good end.

  3. The Democrats gave everyone a loan and I ended up getting rich off the people who should have never received those loans. It’s sad but I’m rich biatch

  4. People who do big banks of corporations dirty work are the same people who will torture you when shit goes down.. And they always say its just my job.. WELL FIND ANOTHER ONE YOU HEARTLESS ASSHOLE!!

  5. WAYNE county IS a criminal enterprise and for the people who live there, YOU DESERVE what you get.
    The criminal government simply represents the population of criminal minded people.
    Detroit is a sewer.

  6. this entire thing is very interesting. the new owners are taking over a city for thousands that will soon be worth millions. I need to get involved in something instead of just watching youtube all day. 🙂

  7. This should be illegal! People should't be able to own whole neighborhoods. I think there should be a cap on the number of homes a person can own! They are killing America.

  8. The thing is she no longer has family around to support and she makes 2k a month. I'm sure she wants the house to be sold and is already planning to live in a new home and continue the same process.

  9. In Communism you don't have to worry about property taxes because you don't own anything the state does. Guess that is what you want instead of paying your bills and being responsible in Capitalism. Thanks Vice because Left leaning politics. Responsibility and Democrat is never in the same sentence. Blame Blame Blame is…..they signed the mortgage documents.

  10. Isn't there some law where if you're being taxed on an assessed value higher than what you paid, you can petition the state or whoever to reevaluate the value based around what you bought it for? I swear I've read this somewhere at least for my state

  11. It's fucke sad man I was Stone know I got to get Stone again and I can't watch this any more I had a friend that lost his home then he k_lled himself 😨😩😰😱😩😭it just bull shit nice show

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.