Friday, February 20, 2009

Monument to Economic collapse, Sinking in Inland Empire, CA

Now parts are a living foreclosure museum, with subdivisions tracing the staggering arc of boom and bust. Some still gleam. Others lie stained and rotting in the desert sun. And some are frozen, half-built: accidental monuments to mass delusion. In 2004, 2047 Cherrytree sold for $247,500. A year 1/2 later, it went for $325,000. Today - $98,000

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