Tuesday, August 12, 2014
(Detroit, MI) -- While Detroit's creditors claim the city's abandoned properties are worth a pretty penny, others claim the real price may be far less than that. The city reportedly tried to sell its vacant and blighted properties last year but nobody was interested. In the "Detroit Free Press," investment banking adviser Ken Buckfire says that city-owned land, "to some extent has negative value." When Detroit's bankruptcy trial begins on August 21st one of the items that will be reviewed is the value of 22-square miles of unwanted vacant and blighted property.