Ground Zero for the Sub-Prime Mortgage Meltdown
March 13th, 2008
Welcome to Irvine California which is nestled between LA and San Diego which most financial industry analysts see as ground-zero for the current housing market crisis. It used to be the headquarters of 18 sub-prime lenders with most of the leaders and biggest such as Option One and New Century. In the blink of an eye 2% or roughly 4,100 jobs were lost almost overnight when the crisis took them by surprise. People in the area still can’t believe the speed at which the town went from boom to bust and many are finding it hard to deal with the problem. Hang on people; it’s not the end of the world.
[...] marylandrealestateagents wrote an interesting post today onHere’s a quick excerpt Welcome to Irvine California which is nestled between LA and San Diego which most financial industry analysts see as ground-zero for the current housing market crisis. It used to be the headquarters of 18 sub-prime lenders with most of the leaders and biggest such as Option One and New Century. In the blink of an eye 2% or roughly 4,100 jobs were lost almost overnight when the crisis took them by surprise. People in the area still can’t believe the speed at which the town went from boom to bust [...]
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