Detroit — As he wraps up his final term leading Michigan's largest city, Detroit Mayor Mike Duggan on Tuesday said the city may soon face "a housing problem" as rents and housing prices increase while inventory shrinks.

Speaking to Rocket Mortgage co-founder Dan Gilbert Tuesday in downtown Detroit as part of an event organized by the Detroit Regional Chamber, Duggan detailed how his administration has worked to renovate and refill vacant houses through the city's land bank.

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