Most news reports on the housing bubble burst focus on stats with the occasional real-person anecdote thrown in. Recommended Sunday reading: A piece in the Eugene Register-Guard that takes a more extensive look at one big local collapse, and what it has meant.
Such as: “At Lenore Estates in Santa Clara, a roofing business that the company stopped paying quit work and left a dozen pallets of shingles in pieces on the ground. The bare, oriented-strand-board shells of the houses were pelted by the winter and spring rains. Summer grasses grew tall and dry around the project; neighbors worried about a fire hazard until city crews took matters in their own hands and cleared away the grass. The man behind the project, meanwhile, is facing two civil lawsuits from 50 Oregon investors who say they’re out $6 million. Oregon builders have filed 31 construction liens against the Santa Clara project and another in Florence, seeking payment for work they did a half-year ago.”
Ever-expanding ripples, clearly documented.Share on Facebook