Monday, October 03, 2005

Empty houses, falling prices: A boom dies

Bill Fleckenstein reports on one area where the top is in housing:
"Big dreams filled Rick and Christy Alonso when they bought their new house from Dominion Homes. Start a family. Build equity. Move to a larger house. But six months later, their suburban neighborhood on the Far West Side began to deteriorate. New houses suddenly emptied. Thistles and dandelions overran lawns. Neon orange labels appeared in windows, signaling foreclosures."
Read the whole article to find out about this Ohio neighborhood.