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housing bubble

Excess...

 

I took this photo while just north of Los Angeles in the city of Santa Maria. It's been one of the harder-hit areas of California, despite being fairly close to pricey and always fashionable Santa Barbara. Perhaps too much building/supply and simply not enough demand was the problem here. This particular photo was taken right off the 101 freeway, and actually only captured a handful of the many, many real estate signs planted on the patch of growth by the on-ramp. I was immediately drawn to the scene, as I felt it summed up the housing bubble perfectly, which in my opinion, has been all about excess - photo courtesy The Truth About Mortgage

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Taken on July 19, 2008