09/17/2012 08:55 am ET

Vacant Land Auction In Detroit Called A Mistake

Planners working on a blueprint for future Detroit development say it's a mistake to keep auctioning off the city's abandoned and vacant property for pittances in back property taxes.

The purchasers are often speculators less interested in creating a unified vision for dealing with vacant Detroit land estimated to be the size of Paris, if assembled into one large plot.

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