May 24, 2018

Detroit: Where houses are cheap — but hypocritical banks break vow to help rebuild

Katie HopkinsShillman Fellow


In Detroit, boarded up homes and burned out shells litter the landscape. Today, a house can be bought here for the price of a used car.

And yet it is difficult for buyers to actually buy. Prices are too low for lenders (who see the deals as too small or too risky) and too high for buyers who are cash-poor and don’t have the money to fix them up.

Bank of America and JPMorgan Chase, the country’s two largest banks, trace their roots back decades when they helped finance the city’s once booming auto industry.

They have pledged to help resuscitate the crippled housing market.

So guess how many home mortgage loans these enormous banks made in 2016 to this city of city of 640,000 people?

WATCH to find out!

 

Comments
You must be logged in to comment. Click here to log in.
commented 2018-05-25 02:28:54 -0400
Tom Bradly agree with you on this one, and you know why it is a shithole right?
commented 2018-05-24 22:27:29 -0400
Detroit is a shit hole. Drive through it with the windows up and the doors locked.
commented 2018-05-24 19:47:36 -0400
Since 9/11 – IN THE NAME OF ISLAM (SATAN): 35,357 Attacks, 229,171 Killed, 309,307 Injured that we know of.