Property-Value Drop Keeps Demo Contractor Busy

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Dec. 21 (Bloomberg) -- Demolition contractor Craig Crawford, a co-owner of C&J Contractors, speaks with Bloomberg's Mark Niquette about the evolution of his business as cities, like Cleveland, move to stabilize property values by tearing down vacant homes. Cuyahoga County, Ohio’s most populous, is revaluing its 550,000 parcels in Cleveland and countywide in 2012. The last full reappraisal was six years ago and the Federal Reserve Bank of Cleveland says values may be 45 percent lower. (Source: Bloomberg)

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