How to avoid foreclosure
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The headline in Friday’s New York Times got my attention: ‘Pain of Foreclosures Spreads to the Affluent.’ Problem is, the story doesn’t come close to backing it up. In fact, the story explains that foreclosures are practically nonexistent in affluent Greenwich, Conn.
And that’s the real story: The foreclosure crisis is not a crisis at all -- at least not yet -- in most affluent areas. This is obvious to many of you, but it’s worth noting just the same. Take a look at this photo gallery of neighborhood foreclosure statistics in Southern California -- the trend is clear: Older, established, wealthy neighborhoods are practically foreclosure-free zones.
First-quarter foreclosure totals from a few notable areas:
Beverly Hills: 7
Calabasas (pictured): 6
Hollywood: 15
Santa Monica: 9
Venice: 0
Palmdale: 729
San Bernardino: 585
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Photo Credit: Morning mist in Calabasas, submitted to Your Scene at latimes.com by Andie