91.7 Ann Arbor/Detroit 104.1 Grand Rapids 91.3 Port Huron 89.7 Lansing 91.1 Flint
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations
On this page you'll find all of our stories on the city of Detroit.Suggest a story here and follow our podcast here.

An overlooked obstacle in Detroit: getting a mortgage to buy a house

Ian Freimuth/flickr

Detroit is often called the comeback city by politicians and boosters. The central business district is recovering. But many of the neighborhoods are still struggling. There are a lot of empty houses. If they don’t sell, they’ll quickly become derelict, blighted, another problem.

A major obstacle to buying a house is getting a traditional mortgage.

Anna Clark recently wrote an article for Next City, "The Threat to Detroit’s Rebound Isn’t Crime or the Economy, It’s the Mortgage Industry."

Clark says redlining is alive, well and dangerous in Detroit. "It effectively set up the architecture of segregation that we still see today," said Clark.

In the Stateside interview Clark said, "Last year there was 3,500 sales of single family homes. Only 462 actually received a mortgage."

Find out why banks are not making loans for homes in many Detroit neighborhoods in our interview above.

Stateside is produced daily by a dedicated group of producers and production assistants. Listen daily, on-air, at 3 and 8 p.m., or subscribe to the daily podcast wherever you like to listen.
Related Content