
Vice investigates the Detroit foreclosure crisis (10 min) - rmason
https://www.youtube.com/watch?time_continue=5&v=gHLaWw_PnQY
======
rmason
One thing the story doesn't cover is that real estate investor will use the
services of a lawyer (because he knows to do so) and lower the $30,000 value
of the house to the $3500 that both he and the original owner paid for the
property.

So at a $500 monthly rent he will have his investment back in 7 months and a
90% reduction in his property taxes.

