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Inspired by a friend who lost their home during the 2015 Wayne County property auction, this bounty aims to address the trend of homeowners losing their investment due to short term financial struggles. Ms. Oliver worked with the United Housing Coalition and requested they support her in buying her property back from Wayne County. Unfortunately, an outside investor continued bidding on her home and she lost her home. Residents of Wayne County are prime targets for real estate speculators who can scoop up properties for a fraction of what they cost less than a decade ago. These residents are forced to leave without any financial compensation simply because they could no longer afford to pay their taxes. The #oliver313 bounty intends to lobby and support legislation that will force incoming real estate investors to compensate homeowners for their loss. While the formula to compute this compensation is debatable, we believe Wayne County economists should be considering the homes 20 year average value in relationship to the auction price and set compensation somewhere in between, but no less than the auction purchase price. If legislators drag their feet, this bounty will be used to compensate homeowners directly from the funds raised herein.
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