Lenders in the Cleveland, Ohio area have been selling homes for as much as one-third their previous value; this is not welcome news to other property owners in the area. Lenders are driving the property values down in areas like this all over the United States. This is a growing issue across the country, foreclosures are at an all time high and lenders want to get these foreclosures sold. This forces lenders to sell these foreclosed properties at considerably less then surrounding market value, therefore destroying the property values of the homes around them.
