The Philadelphia Inquirer looks at the real estate bust in Nevada.
The death of another family’s American dream shows in subtle ways: a front yard shaggier than the neighbors’; windblown leaves piled against a padlocked door; a foreclosure notice pasted to the garage.
“These people over here just walked away,” said Dave Johnson, gesturing toward the empty stucco-and-tile home next to his on Diazo Street.
Johnson and his wife bought their place for $249,000 41/2 years ago, when he had steady work as a truck driver. Now he has an agreement to sell the house – for $65,000.
Persons such as this are the victims, not the perpetrators, of the crash.
The perpetrators don’t even have to
be drive n by their chauffeurs through these communities as they travel between their corner offices and their country clubs.