A Housing Complex that lacks Water

The Los Angeles Times today has a fascinating story about a housing development in Lancaster, a Mojave desert community north of Los Angeles, where the homes don’t have adequate water.

The developer, big New Jersey-based home builder K. Hovnanian, once planned hundreds of homes there, but stopped at 35. Now Hovnanian and the county are pointing fingers at who’s responsible for the lack of a basic necessity. Homeowners are suing, and defaulting.

Yet another sign of how crazy things got in the boom years.

Before it's here, it's on the Bloomberg Terminal.