"Raze the Roof: Cleveland Levels Vacant Homes to Revive Neighborhoods" - 2 views
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Metropolitan Institute on 23 Nov 11A slow process of out-migration, loss of jobs, loss of population and the recent housing crisis has left cleveland with a host vacant homes, approximately 13,000. Due to rehabilation costs exceeding potential sales prices and a mis-match in productive (land/economic) uses, nearly 80% of these vacant homes make fiscal sense to demolitish. This has left the city and remaining neighborhoods to explore untraditional ways of redeveloping. It has also lead to a growing trend of foreign investment in it's neighborhoods, from Israel to the United Kingdom, all hoping the real estate market will stabilize.