A foreclosed home from the short documentary.
Detroit has a foreclosure problem, a very big one.
Tens of thousands of homes are in foreclosure because of unpaid property taxes that are often way too high. City assessments, in many cases, never were adjusted to reflect the true value.
One in the three properties has been foreclosed on in the last 15 years. Thousands of people lose homes annually in county auctions.
But it doesn't end there. Some companies bid and buy the occupied homes, then rent them to owners or new dwellers.
Antonia Hylton of HBO's Vice News, highlights Steve Hagerman of Brick Home Management and his son Stevey, who snap up hundreds of foreclosed properties at online county auctions each year.
The 11-minute video also shows Michele Oberholtzer of the United Community Housing Coalition, which uses donations and loans to help property owners keep their homes. Sometimes they succeed.
If you want an understanding of the issue, this mini-documentary is worth watching. It first aired on HBO in December.
