Tuesday, Jun 24, 2008
Trashed foreclosures in Orange County, California- this is the reality.
Orange County Register: The real foreclosures of Orange County
Formerly $600,000 homes are now vacant and coated in graffiti- and up for auction at $89,000. See an amazing slideshow of the economic and physical destruction.
Posted by tom stevens @ 06:02 AM (419 views) Add Comment
4 Comments
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1. Rental John said...
Great find......slideshow is a telling indictment of the fall-out from the sub-prime 'fraud' in the USA.
2. Lulah said...
I know this part of the world very well. Most of the houses in these pictures are not in areas I'd ever consider living, even at knock down prices. Garden Grove has an area called Little Saigon and it's not pretty! As for Ladera Ranch, we always described it as "Disneyland" for adults, very fake looking, also there is a 1% fee to the community of the price of the house when you buy, not to mention very high HOA fees and the famous California Mello-Roos tax (on all new build). The tax base there is about 5-6% per year! CA is falling fast, always a leader!!
3. str 2007 said...
Having flicked through these homes, I don't believe the original sale prices. America is cheap for houses, these quoted prices don't stack up atall.
If by any chance I'm wrong then the amount of money about to be lost by banks - well USA must be bankrupt.
4. harold said...
Grim.