Has Wall Street Created Another Housing Crisis?
The Zombies Of Wall Street: The housing crisis crippling Cleveland
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A wind from Wall Street destroyed the once-proud neighbourhoods of Cleveland, Ohio, and hope has vanished from America's former industrial heartland. But ten years after on, the worst is yet to come.
Since the 2007 sub-prime crisis, an exodus of families ruined by the banks has drained Cleveland's life-blood. Communities declined and family homes are now scarred by the evidence of violent crime. Like many Cleveland residents, politician Jim Rokakis felt helpless against the power of global markets: “A lot of us raised our voices and we screamed and we waved and we said there’s a train wreck coming. Well the train wreck came”. The city has changed beyond recognition. As Police Chief Brandon Kutz says, "We’ve had a lot of homicides this year, we’ve had a lot of people shot. We’ve had a lot of citizens afraid and scared. It’s a serious issue”. Those who remain have few choices. Homes are worthless, and long-gone owners are stalked for maintenance costs they can't afford. Resident Stephanie Benifield says, "People are dying and people are just abandoning the homes", because "they can’t afford the homes and the upkeep." For Rokakis, the fight against the banks has been lost. "This was a war", he said. "We lost the war and what we’re doing now... this clean-up is basically burying the dead”.
ABC Australia – Ref. 6727
Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
Видео Has Wall Street Created Another Housing Crisis? канала Journeyman Pictures
For similar stories, see:
The Panama Papers: Secrets Of The Super Rich
https://www.youtube.com/watch?v=BBmLMVHzrX4
On The Streets Of The Greek Financial Crisis
https://www.youtube.com/watch?v=nDfOFzAKB-w
Inside The World Of The Global Super-Rich
https://www.youtube.com/watch?v=3DT-DTQke58
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
https://www.journeyman.tv/film/6727/the-zombies-from-wall-street
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
https://instagram.com/journeymanpictures
A wind from Wall Street destroyed the once-proud neighbourhoods of Cleveland, Ohio, and hope has vanished from America's former industrial heartland. But ten years after on, the worst is yet to come.
Since the 2007 sub-prime crisis, an exodus of families ruined by the banks has drained Cleveland's life-blood. Communities declined and family homes are now scarred by the evidence of violent crime. Like many Cleveland residents, politician Jim Rokakis felt helpless against the power of global markets: “A lot of us raised our voices and we screamed and we waved and we said there’s a train wreck coming. Well the train wreck came”. The city has changed beyond recognition. As Police Chief Brandon Kutz says, "We’ve had a lot of homicides this year, we’ve had a lot of people shot. We’ve had a lot of citizens afraid and scared. It’s a serious issue”. Those who remain have few choices. Homes are worthless, and long-gone owners are stalked for maintenance costs they can't afford. Resident Stephanie Benifield says, "People are dying and people are just abandoning the homes", because "they can’t afford the homes and the upkeep." For Rokakis, the fight against the banks has been lost. "This was a war", he said. "We lost the war and what we’re doing now... this clean-up is basically burying the dead”.
ABC Australia – Ref. 6727
Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
Видео Has Wall Street Created Another Housing Crisis? канала Journeyman Pictures
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