ABSTRACT
This chapter explores structure and agency in political economy through a case study describing efforts to shift the practice of abandoned property governance. Land banks seek to manage the re-use of abandoned property by vetting bidders and buyers of property and/or engaging in partnerships to redevelop property to address public problems, including the lack of affordable housing, the lack of park space and the need for community gathering spaces in disinvested neighbourhoods. While financial definitions of speculators emphasize risk to the investor, in the political economy of shrinking cities, this definition emphasizes the risk to neighbors, communities and cities where speculators purchase abandoned property. In order to understand the political economy of abandoned property, the authors first turn to the state and local laws that govern property tax delinquency and foreclosure. Therefore, in order to understand the political economy of tax forfeiture, it is necessary to understand the structure and political geography of the county government.
