(Ventura County Star, 5/20/2001)
The financial adviser's customers included professional athletes and models, friends from high school, family members, his children's schoolteacher and a church pastor. Some thought he could make dreams come true. Then came the FBI and the SEC and U.S. Bankruptcy Court.
Julie Clark and her three children lived with the daily fear that they'd lose their motel room. Terra Hays, 10, watched police arrest her mother for faking an ID to pay another night's rent. As housing costs have risen, so has the rate of homelessness for families.
Mixed-use housing is designed to blend into its environment, but lately it's standing out and drawing noticed from California planners, financiers and builders as they struggle to find a way to relieve the state's housing crisis.
There's one real estate agent or broker in California for every 30 households. That's 381,000 people, all looking to represent house buyers and sellers. Sales and commissions are fueling a kind of modern gold rush, and the competition is fierce.
Few 24-year-olds living with their parents would have to think twice about their next move if they won a $1.38-million house in Palos Verdes Estates with sprawling decks, floor-to-ceiling windows and magnificent ocean views. It's a good bet many would fall all over themselves booking the moving van.
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