Real Estate News Blog Ohio October Archive

The Shadow of Debt

By Art C Ryter at 10/03/07 03:08

Twenty years ago, the Slavic Village neighborhood of Cleveland was a tightly knit community of first- and second-generation Polish and Czech immigrants. Today, it's in danger of becoming a ghost town, largely because the hundreds of foreclosures that have destabilized the community and local economy. There are whole blocks that seem to have been abandoned leading to increased crime rates. Reinvestment and home mortgage refinance is incredibly difficult under these conditions.

Original source: . The Shadow of Debt