“Cleveland won’t be reborn until it buries its dead,” a Cleveland Magazine article explains, and the ghosts haunting Cleveland are some 8,000 vacant and abandoned homes.
They draw drug dealers and prostitutes while dragging down surrounding homes’ values. Mayor Frank Jackson has stepped up efforts to bring the problem under control in recent years. But annual foreclosure rates hovering around 14,000, means the city is aiming at a moving target.
“There’s a lot more supply than there is demand,” says Cuyahoga County Treasurer Jim Rokakis. “If there was huge demand for this housing, people would be moving into it.”