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Why America's most reckless real estate investors come from Orange County. - By Daniel Gross - Slate Magazine
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"Briefing News & Politics Arts Life Business & Tech Science Podcasts & Video Blogs HOME / moneybox : Commentary about business and finance. The Real Morons of Orange County Why America's most reckless real estate investors come from Irvine, Calif. By Daniel Gross Posted Thursday, July 26, 2007, at 5:05 PM ET Until recently, Orange County was the New Jersey to Los Angeles' New York City. Upscale, but generally ignored, and nowhere near as chic or happening as its urbane neighbor. Television helped change the image, with glitzy offerings like The O.C. , Laguna Beach , and The Real Housewives of Orange County . PRINT DISCUSS E-MAIL RSS RECOMMEND... SINGLE PAGE Facebook MySpace Mixx Digg Reddit del.icio.us Furl Ma.gnolia Sphere StumbleUpon CLOSE These shows portray the beachside O.C. as the capital of plastic surgery and extreme consumption. But inland, just over the hills, the massive planned community of Irvine has become the nation's capital of real estate folly. And that's surprising, given that Irvine is itself a result of one of the great real estate investment plays of all time. Related in Slate Daniel Gross recently compared the U.S. housing market to the Iraq War . After the housing collapse, Gross assessed the losers on Wall Street and other less obv"
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