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Subprime Tent Cities

Posted by: Nate Berg

19 March 2008 - 9:00am

This video from the BBC looks at the ten cities that have sprung up outside of L.A. as a result of the subprime mortgage meltdown.

Full Story: Tent cities spring up in LA
Source: BBC via YouTube, March 18, 2008
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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