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Effects of the Foreclosure Crisis Still Felt in Parts of Cleveland
"A decade after the 2008 financial crisis rocked Wall Street, scars of the Great Recession still mar residential streets across Cuyahoga County," reports Michelle Jarboe.
Jarboe is sharing the conclusions of a new report from the Western Reserve Land Conservancy, which uses data from the Center on Urban Poverty and Community Development at Case Western Reserve University to create a portrait of two distinct housing markets in Cleveland.
"One is bustling, a seller’s market that’s forcing bidding wars among buyers and, in some hot suburbs and city neighborhoods, driving prices far above asking rates," writes Jarboe, while the "second housing market is struggling and, in some cases, gasping."
The article includes a series of infographics to illustrate the ongoing effects of the foreclosure crisis on Cleveland's housing market.