Detroit to bulldoze thousands of homes in fight for survival

David Bing, a businessman and former all-star basketball player who entered politics late in life, says he has no choice. Large chunks of neighbourhoods would be razed and converted to parks, urban farms or simply abandoned. As an opening bid, Mr Bing has vowed to demolish 3,000 homes this year, and a further 7,000 over the following three years. Some are speculating that up to 40,000 homes could eventually go.


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High-End Homeowners Falling Into Foreclosure Trap

Heated pools, ocean views and media rooms are not what most people would expect to find in a foreclosed property, but more high-end homes—priced over a million dollars—have been falling into the hands of banks this year.
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