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WOT 3-22-2008

Thank you, Daniel Gross, for the mention in your latest article: Recession Literature, The best books, articles, and Web sites about the economic collapse.

Irvinehousingblog.com is an exemplary Internet mashup. Irvine, the master-planned community in Orange County, Calif., was in many ways the epicenter of the housing boom. Many of the now-defunct ambitious subprime lenders were based there. And the O.C. housing market was a hothouse of speculation and refinancing. Today, it’s the “seventh circle of real estate hell.” Using realty listings, public records about debt, and YouTube videos of popular songs, an anonymous blogger who goes by IrvineRenter skewers homeowners who paid too much and are now desperately trying to recoup their investments. Realtors who post lame photos, misspell words, or engage in silly promotion-speak also come in for ridicule. At the end of each entry, the blog calculates precisely how much a homeowner—or the bank that foreclosed on his or her property—will lose if the house gets its offering price….
Original Source: feeds.feedburner.com/IrvineHousingBlog