Last week, the California Reinvestment Coalition and the Alliance of Californians for Community Empowerment released "The Wall Street Wrecking Ball" report, serving a stark reminder that foreclosures aren't just for big developers (like we needed one). The report says that from 2008 through the end of next year, nearly 200,000 Los Angeles houses will have been foreclosed on. According to a Daily News story detailing the report, 80,654 homes in Valley ZIP codes, with a combined value of roughly $10.5 billion, will be foreclosed on by the end of next year. According to the report, the individual zip codes with the most foreclosures will be 91342 in Lake View Terrace; 91331 in neighboring Pacoima; and 90003 and 90044, which cover the adjoining Florence and Westmont neighborhoods in South LA. Continuing the foreclosure theme: the Northeast LA Home Rescue Fair was held last weekend in Lincoln Heights and the Eastsider LA was there to show the state of the relationship between banks and people in 2011: people's seatbacks were marked by color-coded paper that corresponded to the banks holding their troubled loans.
· Colored by foreclosure [Eastsider]
· `Grim' foreclosure outlook for Los Angeles through 2012 [Daily News]