Todd Lappin recently visited Modesto, a central California city that was hit hard by the mortgage bubble. He posted his photos and comments on his blog, Telstar Logistics.
A city of more than 210,000 people located about 90 miles east of San Francisco, Modesto had the nation's third-highest home foreclosure rate during the third quarter of 2010 (just behind Las Vegas, Nevada and Cape Coral/Fort Meyers, Florida).
In practical terms, that means 1 in 36 homes in Modesto is in foreclosure, and as we discovered, the evidence of this is visible from street level.
"We're going to be near the top of the foreclosure list for a long time," Bob Johnson from Direct Appraisals in Modesto told us. "The majority of the foreclosures here are people who used home equity loans to buy cars and other things. Banks often try to help out with loan modifications, but that doesn't really help, so people just walk away. Bottom line is, people here say they just won't pay mortgages that are worth more than the value of the property."
Nobel Prize-winning economist Joseph Stiglitz says the Trans-Pacific Partnership, or TPP, could be the worst trade agreement ever negotiated in history. In an interview with CBC News, he recommended that the government of Canada insist on reworking it.
Last week, Boing Boing pals Douglas Rushkoff, author of Throwing Rocks at the Google Bus, and Marina Gorbis, executive director at Institute for the Future (where I’m a researcher), took the stage at San Francisco’s Commonwealth Club to discuss why we’ve lost sight of the open Web and how the digital economy has gone terribly […]
Experienced shutterbugs with DSLR cameras have boatloads of lens options for capturing the moment. Unfortunately, smartphone photographers often get stuck with their one crummy lens, which means limited zoom and focus for their final image.Step up your smartphone’s photographic power with the Acesori 5-Piece Smartphone Camera Lens Kit, now just $9.99 in the Boing Boing Store.Magnetic rings easily […]
Some truths are universal. For one, your phone will always run out of power when you most need it. For another, the charging cords that come packaged with your Apple device will fray, split, and rip faster than Usain Bolt in a game of tag.Instead, pick up a charging cord that anyone would have a tough […]
Some people say magic tricks are nerdy and best left to your 12-year-old asthmatic cousin. But others see value in perfecting the slight of hand and showmanship associated with a perfectly executed routine. We’re firmly in the latter camp. And now, we’re giving you the ability to put a few parlor tricks up your sleeve with the Penguin […]