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...booming housing markets in Los Angeles, San Diego and Orange counties had barely felt the chill that hit Miami and Denver from rising inventories, declining prices and slowing sales. But this week's spate of gloomy housing data included ominous reports from the West Coast. Led by an astonishing 799% rise in Los Angeles County, foreclosures in southern California jumped 725% in the second quarter, to a record 9,504, from 1,152 a year ago. The spectacularly bad trend was coupled with news from mega-mortgage lender Countrywide Financial that homeowners with good credit are starting to fall behind...

Author: /time Magazine | Title: California's Real Estate Tailspin | 7/27/2007 | See Source »

Santoro's territory, known as the Inland Empire, lies some 60 miles east of downtown Los Angeles. When the real estate boom started at the beginning of the decade, the Empire?s Riverside and San Bernardino Counties stood as monuments to the American dream, affordable nesting spots for those priced out of the L.A. market. Migrant Angelenos found bigger homes on bigger lots in brand new subdivisions for as much as $100,000 less. Johnson says that in some of those developments, as many as 80% of the buyers were subprime borrowers and many of them first-time homeowners. Consequently...

Author: /time Magazine | Title: California's Real Estate Tailspin | 7/27/2007 | See Source »

Foreclosures in San Bernardino shot up 987% to 1,489 in the second quarter. In Riverside they jumped 793% to 2,509. That stock will soon be competing with a 13-month supply of unsold inventory that's already on the market. Santoro is braced for the worst. "There's a tsunami coming and we're going to get slammed," he says. And while economics is always local, economic nervousness can go national - even global - in a matter of hours, as recent financial events have shown...

Author: /time Magazine | Title: California's Real Estate Tailspin | 7/27/2007 | See Source »

Consalvo said his plan—based on a similar bill recently enacted in San Francisco—takes a three-pronged approach to this environmental scourge...

Author: By Nathan C. Strauss, CRIMSON STAFF WRITER | Title: For Beantown, A Ban on Bags? | 7/27/2007 | See Source »

Sarah McCall, a Peace Corps veteran who since March has led six Globe Aware trips in Costa Rica and Peru, recalls how her groups constructed mud-and-brick stoves for 24 Peruvian families in San Pedro de Casta to save fuel and keep harmful smoke out of adobe homes. The project was the brainchild of municipal officials. "We never go in and say that we had this idea, and we want to do this," McCall explains. Instead, she and other leaders check in with the locals to see what the community needs, then dispatch volunteers to do the legwork. Voluntourism...

Author: /time Magazine | Title: Vacationing like Brangelina | 7/26/2007 | See Source »

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