Sunday, April 1, 2012

Depths of foreclosure crisis difficult to measure

WEST PALM BEACH, Fla. (AP) – When Frank Verna pulls up to a battered, four-unit apartment building at lunch hour, he's just over a mile as the seagull flies from the gated, oceanfront palaces of South Florida's wealthiest.



But this stretch of 21st Street, pocked by homes with boarded-up windows and dead-ending at railroad tracks, is unlikely to make it to a tourism poster. Verna turns the car around in case he needs to make a quick exit and tucks a Smith & Wesson pistol into his jeans.
"Just watch your step," the real estate agent says, parting bushes grown across the building's entry path. Beyond is the darkened doorway to Unit 1 — missing its door.


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