A Gated Community in California Goes from Bucolic to Ghetto
March 31, 2010 at 12:11 PM Leave a comment
Here is a heartbreaking story — that poignantly illustrates the disastrous situations some people are finding themselves in as a result of the “mortgage mess” — about a gated community in Southern California that was advertised as a bucolic, blissful place but that has now become a “gated ghetto.”
I was shocked to learn that one of the families profiled paid $440,000 for their house a few years ago but it’s “probably worth about $170,000 now.” What an unbelievable hit.
Entry filed under: Financial Crisis. Tags: .
Trackback this post | Subscribe to the comments via RSS Feed