Big front page NYT article on Beth Court, Moreno California, titled A Cul-de-Sac of Lost Dreams.
Its a piece in the making since January, with lots of those small human elements that personalizes the housing boom and bust. (EG: “a new homeowner lugged two large shopping bags from Home Depot across his front yard, where his young daughter danced a mad jig in her pajamas.”)
The caption to a picture of the block “Loss and Opportunity, side by side” sums up the tone pretty well, as does this excerpt:
“The continuing economic fallout has brought a reckoning for those who believed that home equity would always rise, financing lives beyond their means, while also creating unexpected opportunities for people previously on the sidelines of homeownership.”
Pour a cup of joe, and begin your Sunday morn with this huge piece.
So Cal Turnover
courtesy of NYT
A Cul-de-Sac of Lost Dreams, and New Ones
NYT, August 22, 2009