김형래의 개구리운동장 : Kim, Hyeong-Rae's Blog :: Foreclosure Alley -

Foreclosure Alley -

 
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!”

Related Stories

Brown Grass and Green Pools - Brown Grass and Green Pools - SoCal Connected producer Angela Shelley on why field producing is television’s most glamorous job...

Federal Aid for Foreclosure Troubles - Guest blogger Peter Viles explains why California and many of its communities hardest hit by the foreclosure crisis stand to receive more than $500 million in federal aid over the next 18 months. Also, in a SoCal Connected web extra, real estate agent J. J. Swanson tells SoCal Connected reporter Lisa Ling and producer Angela Shelley that she’s busier than ever.

Lunch With A Side of Hurt - The SoCal Connected crew stopped to take a lunch break in Lake Elsinore, while filming Foreclosure Alley. There, they met Louie Trujillo, owner of Las Cuatro Milpas Restaurant. Trujillo explained how the Inland Empire’s foreclosure crisis is hurting his business..


CREDITS:
Produced by: Angela Shelley; Edited by: Michael Bloecher

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2008/09/15 23:59 2008/09/15 23:59

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