Monday, November 14, 2011

Housing Slump Leads to Some Unusual Outcomes

1. "Here in Merced, California a city in the heart of the San Joaquin Valley and one of the country’s hardest hit by home foreclosures, the downturn in the real estate market has presented an unusual housing opportunity for thousands of college students. Facing a shortage of dorm space, they are moving into hundreds of luxurious homes in overbuilt planned communities."



2. "Las Vegas has a pot home problem. And like many of the region's maladies, it's tied to the housing slump. Major cultivators spend tens of thousands of dollars turning cheap homes into greenhouses. Last year, authorities took down 153 indoor grow sites in Nevada and seized more than 13,000 plants, compared with 18 sites and 1,000 plants in 2005, the U.S. Drug Enforcement Administration said."


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