Detroit is trying to pick itself up from a significant housing bust, but questionable appraisals are stalling the process, Bloomberg reports.
The publication suggests some final appraisals are dragging down area home prices.
Due to neighboring communities with housing issues, homes are being appraised for dramatically less than what buyers are offering.
The city is trying to create a functioning mortgage market, but flawed appraisals and a dearth of normal, non-foreclosure sales to serve as comparisons have put mortgages out of reach of most buyers, the article said.