Victorville Homes Demolished

by James & Miel on May 1, 2009 · 0 comments

Hi All,

This came across my radar screen this morning. As a sign of the times, one California bank is having to demolish its real estate developments. Evidently what happened was the bank funded a housing project in Victorville that couldn’t finish before the boom ended. They got left holding the bag, had to pay a number of fines to the city and took a $592,000 quarterly loss (1).

One just hopes this isn’t a trend.

By James & Miel

James & Miel are originally from Oregon, and are both gainfully employed professionals. James works internationally in survey research, and Miel currently works in international development & relief in Africa.

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