Cleveland, Ohio (02:13)
Rust belt industries long in decline and sub-prime lending significantly impacted this city that was once a powerhouse. Paul Barry sees a major change on East 4th Street since his visit eight years ago.
Cleveland's East Side (02:18)
Approximately 60% of the population is African American and most live in poverty; sub-prime lending forced many residents to leave. Police from the 4th District patrol the area and investigate abandoned homes. The area has the highest crime rate in Ohio.
Cleveland's Drastic Transformation (02:54)
See historic images of Cleveland. Homes on the East Side once built for migrants and later housing workers from GM and Ford, are now abandoned and in disrepair. Predatory lending and job loss forced many people to leave.
Declining Neighborhood (03:27)
The median sale price in East Cleveland is $15,000. Stephanie Benifield and Barbara Anderson continue to live in their homes. Cleveland lost 18% of its population in 10 years; minority communities experienced a $1.2 trillion hit to their net worth.
Sub-Prime Loans (03:40)
Fraudulent lending played a crucial role in the demise of Cleveland's East Side; minorities were targeted. See an anti-predatory lending commercial. Experts discuss the role of the loans on the Wall Street level.
Zombie Mortgages (04:02)
The bank told Marty Quinones it was going to reposes his home, but decided not to without telling him. Quinones is responsible for its upkeep despite the bank making him move out and making no mortgage payments; Quinones goes to court.
Home Demolition (02:01)
The Housing Court often makes the bank take the property or give it to the County Land Bank. Workers demolish a house. House demolition can be beneficial for those who stay.
Slavic Village (01:56)
Councillor Tony Brancatelli wants to revitalize Cleveland's East Side. It will cost $10 million to clear 1,000 abandoned properties.
Housing Auction (03:24)
Cleveland's sheriff sells properties of those who have been evicted every week. People from around the world purchase properties in Cleveland through the Internet. Carol Black lives next to a derelict home owned by a man in England
Out of Control Lending (01:52)
Jim Rokakis addresses a crowd at his birthday party. Despite continued efforts, the city has lost the war with lending industries.
Credits: USA: The Zombies from Wall Street (00:25)
Credits: USA: The Zombies from Wall Street
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