Back in September 2008, right about the time when the financial markets were really starting to get scary, the real estate stories were about bobcats moving into a foreclosed home in suburban Southern California. This past weekend, the New York Times ran a real estate story about plucky buyers moving into foreclosed homes, a piece that looked at eight houses on one cul-de-sac in Moreno Valley in the Inland Empire (a neighborhood about 60 miles from Los Angeles). Among other things, the story shows the tension between those still living on the street and those families moving in to take advantage of the prices of the foreclosed homes (three of the eight homes have been sold). One meets Gaston and Natalie Giuliani, immigrants from Argentina. Buying for them was the "realization of long-held dreams and months of negotiations." One also meets carpet cleaner Dan Cortez, who "never thought he could afford his own home -- the four-bedroom is a castle compared wi...
by Brad Inman | on Mar 21, 2017
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