News
nowplaying
On AirNewsClassical
Loading...
  
Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Ohio


Cleveland housing ranked as most undervalued in the nation in new study
Homes in the Cleveland area are selling for 16% less than their worth.
Story by BRIAN BULL


 
Dennis Keating says millennials are not buying homes as early, creating lesser demand.
Courtesy of Cleveland State
Download (WKSU Only)
In The Region:

A national ranking of housing markets puts Cleveland on the "most undervalued" list along with Detroit. For Ohio Public Radio, WCPN’s Brian Bull reports:

LISTEN: Cleveland housing ranked as most undervalued in the nation in new study

Other options:
MP3 Download (0:47)


The findings show homes in the Cleveland-Elyria-Mentor area were selling at roughly 16 percent less than what they’re worth.

Dennis Keating is a Professor of Urban Affairs at Cleveland State University. He says there are roughly 16,000 vacant and abandoned homes in the area, bringing down the values of those neighborhoods.

“So with a glut of vacant housing on the market, that would tend to drive the price down…and nationally millennials, due to the job situation, also due to student debt and other factors, are not buying homes as earlier as they might have in the past.  Therefore again, lesser demand," Keating says. 

And as of this year, more than a fourth of Cleveland homes are underwater, meaning owners are paying lenders more on them than their actual assessed worth.

Listener Comments:

Not sure how this is possible; we were assured by the Cleveland City Council, Cuyahoga County Council, etc. that spending a small fortune to build stadiums and arenas for the Browns, Indians, and other multi millionaires was a shrewd and wise use of taxpayer monies, and that the net result would be a mad rush of people buying homes in Cuyahoga County and creating some sort of economic nirvana.


Posted by: Mark (Smith) on June 12, 2015 12:06PM
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 


Stories with Recent Comments

Pluto: The Browns split from Manziel is long overdue
Get Brock Osweiler from the Denver Broncos! He's fantastic and seems like a great person.

Democratic Senate hopeful P.G. Sittenfeld pushes for local gun control
That makes no sense at all... why not let cities determine driving codes as well? Maybe Cincy want's folks to drive on the left side of the road. What could go ...

Exploradio: Autism in the workplace
I would love to get more information re: Autism on The Town and other such programs in Northeast Ohio. Thanks!!

Human trafficking cases rise in Ohio
It is about time this is presented to proceed with a plan of prevention..to protect our youth.And very necessary to inform communities through school, churches ...

Fermented food company aims to preserve Cleveland's farm-to-table movement
This is terrific! I make my own sauerkraut and consider it vital to good health. Well done, I wish you all success.

Ohio doctors get new guidelines for prescribing certain painkillers
I would gladly smoke pot to get off pain killers but its not legal.It would save the hassle of doctor visits for pill counts,pee tests,blood tests,driving to pi...

Ohio unemployment cuts are nearing a Statehouse vote
What about those that are laid off seasonally? My husband has been employed by the same company for 26 years and has been laid off (for the last 17) mid-Januar...

Ban on microbeads is a big step in fighting plastic pollution
What a bunch of liberal "so open minded their brains fell out" tree huggin yuppies. Professing to be wise they became fools.

Who's on -- and left off -- Ohio's medical marijuana task force?
Biggest joke everm these people are evil they know marijuana is harmless they rigged the polls last nov everypne kmows it

Dayton 'Black Lives Matter' protesters to appear in court today
Police to fast with the trigger finger and not the brain.A lot of police officers out here judge by color first instead of accessing the situation first. If a p...

Copyright © 2018 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University