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  • From: bob ford <bobford79 AT yahoo.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: [Homestead] Foreclosure alley
  • Date: Sat, 4 Oct 2008 11:08:48 -0700 (PDT)

video clip

http://kcet.org/socal/2008/09/foreclosure-alley.html


For the past few years, the Inland Empire in Riverside County has been one of
the fastest growing counties in the state - home to a major housing boom.
But now the Inland Empire is pretty much the poster child for the foreclosure
crisis. In the newer developments, house after house sits vacant - either up
for auction, for sale by a bank or going for what’s called a “short sale”
which is when the owner owes more than the house is worth.

SoCal Connected tracked down some surreal sights associated with the crisis -
a company that specializes in removing whatever people leave behind in their
foreclosed homes. The process is called a “trashout” - a term the company
came up with because it perfectly describes what happens. Everything that’s
left is dumped in a trailer and taken to the landfill.
Then there’s the guy who started a business to spray-paint dead lawns.
That’s right. He paints brown lawns green. We also tag along with a couple
of code enforcement officers who are spending more and more of their time
having to drain slimy, abandoned pools.

Finally, we meet a typical couple who bought their first home, thinking it
was a great investment and tax write-off. Now the place is worth only half
of what they paid for it and their neighborhood has almost as many vacant
homes as occupied ones.

One of the code enforcement guys sums up the problem in a single sentence -
“You know you’re in trouble when the lawns are brown and the pools are green!”







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