Lot 354: A Tale of America's Housing Meltdown

Lot 354: A Tale of America's Housing Meltdown traces the property at lot 354 from savvy investment boom to foreclosure bust and back again. Participants in the piece include the couple who bought the home low in 2002, improved it, and sold it 4 years later at almost triple the price; the couple who bought high and lost the home to foreclosure; and the couple who bought it this year at a fraction of the price it sold for in 2006. The story also includes Lot 354's real estate broker, an auctioneer, and a housing banker who will discuss why the home's life on the Los Angeles real estate market reflects the true story of the lending practices that contributed to the crisis in America's housing market. SoCal Connected's Val Zavala and Marketplace host Kai Ryssdal anchor the program, and look at how economic forces led to the housing crisis and what the future may hold for both buyers and sellers