It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
The reality of a real-estate industry in the tank, job losses, foreclosed homes and empty office space is a far cry from the glitz and fantasy of popular TV shows set in the California county.
Even now, big cities such as Irvine and Anaheim are a far cry from more beleaguered locales such Cleveland and Detroit. While the county's 3,300 foreclosure filings in March were three times what they were a year ago, on a percentage basis Orange County is doing better than neighboring regions. In nearby Riverside and San Bernardino counties, 8% and 6% of homes are in the foreclosure process, versus just 2.4% in Orange County, according to research by market tracker Default Research. Moreover, the median sale price of a home, while down 14% to just under $600,000, is holding up better than the statewide fall of 26%.