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One in seven Detroiters threatened with eviction in wave of home foreclosures!

One in seven Detroit residents is threatened with eviction due to tax foreclosure in 2015, according to data compiled by Loveland Technologies. Last fall, Michigan’s Wayne County, which includes the city of Detroit, served foreclosure notices on a record 75,000 homes, which will take effect later this year. Sixty-two thousand of the homes are in Detroit, and nearly 36,000 are confirmed occupied by an estimated 100,000 residents.”

The mass foreclosures come in the wake of Detroit’s precedent-setting municipal bankruptcy proceedings—the largest in US history—in which city worker pensions were looted and the city’s assets hived off to private entities. They are part of the effort to squeeze every penny possible from the working class to ensure the continued flow of profits to the wealthy landowners, speculators, and creditors who control Detroit.”

Last year, the city’s water department, under the direction of Detroit’s unelected emergency manager, shut off water service to tens of thousands of city residents behind on their water bills. During the bankruptcy hearing it was revealed that this brutal policy was carried out in coordination with several Wall Street credit rating agencies to clear up 'delinquent' accounts, improve the city’s borrowing rates and make the water department a more attractive target for privatization.”

Poor residents who were as little as $150 behind on their water bills were shut off immediately, while major corporate customers owing tens or even hundreds of thousands of dollars, including GM and Chrysler, were not shut off. Both the water shutoffs and foreclosures are part of a long-standing plan to 'downsize' Detroit by shutting off essential public services to entire neighborhoods deemed to under-populated or poor for commercial investment.”

The figure of 100,000 potential foreclosures victims is likely an underestimation. Detroit is home to an unknown but large number of squatters living in homes that are supposedly unoccupied. In an interview with the Detroit Free Press, John Adamo Jr., CEO of Detroit-based demolition company Adamo Group, estimated that squatters lived in five to ten percent of the 80,000 structures targeted by the Detroit Blight Removal Task Force (DBRTF) for destruction.”

Although the city is no longer under the control of an emergency manager, all economic decisions are overseen by a financial oversight committee, which consists of the mayor and city council president and several figures appointed by the governor. For all intents and purposes it is a continuation of the financial dictatorship of the banks, with unilateral power to tear up labor agreements and other contracts and divert what little money is earmarked for the repair of the city’s decayed infrastructure to debt servicing.”

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