More than a quarter of homes in Detroit whose loans failed at the height of the foreclosure crisis in 2006 and 2007 have already been razed or are on the demolition list a Detroit News analysis shows.
In neighborhoods on the far west side and the northeast corner of the city, as many as two-thirds of the properties that went into foreclosure just five years ago are in the city’s crosshairs or already on the ground.
There are now an estimated 38,000 homes in some stage of demolition, a number equal to 10% of all housing units in the city. The city has knocked down 4,200 homes since 2010 and hopes to get to 6,000 more, which could take another three years at its current pace. That doesn’t take into account the 1,800 homes the Detroit City Council has targeted for demolition, or the 26,300 homes that are in the process of being considered for demolition.