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Search results for: Foreclosed-(Housing)

VENEZUELA-COLOMBIA/
RTX1PJ3Y
August 25, 2015
A man walks past a house accommodating people who do not possess proper documentation to live in Venezuela,...
San Antonio, Venezuela
A man walks past a house accommodating people who do not possess proper documentation to live in Venezuela...
A man walks past a house accommodating people who do not possess proper documentation to live in Venezuela, which has been marked for demolition during a special deployment, at San Antonio in Tachira state, Venezuela, August 24, 2015. Venezuela has stepped up deportations of Colombians, in some cases separating children from their parents, since President Nicolas Maduro ordered the closure of two border crossings last week, Colombia's migration office said on Monday. REUTERS/Carlos Eduardo Ramirez
VENEZUELA-COLOMBIA/
RTX1PJ3C
August 25, 2015
A man carries his belongings next to the houses of people who do not possess proper documentation to...
San Antonio, Venezuela
A man carries his belongings next to houses of people who do not possess proper documentation to live...
A man carries his belongings next to the houses of people who do not possess proper documentation to live in Venezuela, which have been marked for demolition during a special deployment, at San Antonio in Tachira state, Venezuela, August 24, 2015. Venezuela has stepped up deportations of Colombians, in some cases separating children from their parents, since President Nicolas Maduro ordered the closure of two border crossings last week, Colombia's migration office said on Monday. REUTERS/Carlos Eduardo Ramirez
VENEZUELA-COLOMBIA/
RTX1PJ3B
August 25, 2015
A woman stands in front of the houses of people who do not possess proper documentation to live in Venezuela,...
San Antonio, Venezuela
A woman stands in front of the houses of people who do not possess proper documentation to live in Venezuela...
A woman stands in front of the houses of people who do not possess proper documentation to live in Venezuela, which have been marked for demolition during a special deployment, at San Antonio in Tachira state, Venezuela, August 24, 2015. Venezuela has stepped up deportations of Colombians, in some cases separating children from their parents, since President Nicolas Maduro ordered the closure of two border crossings last week, Colombia's migration office said on Monday. REUTERS/Carlos Eduardo Ramirez
VENEZUELA-COLOMBIA/
RTX1PJ2T
August 25, 2015
A man walks past the belongings and ruins of houses of people who do not possess proper documentation...
San Antonio, Venezuela
A man walks past the belongings and ruins of houses of people who do not possess proper documentation...
A man walks past the belongings and ruins of houses of people who do not possess proper documentation to live in Venezuela, which have been demolished during an special deployment, at San Antonio in Tachira state, Venezuela, August 24, 2015. Venezuela has stepped up deportations of Colombians, in some cases separating children from their parents, since President Nicolas Maduro ordered the closure of two border crossings last week, Colombia's migration office said on Monday. REUTERS/Carlos Eduardo Ramirez
EUROPE-MIGRANTS/CALAIS
RTX1N1HM
August 04, 2015
African migrants carry their possessions as they walk away from "The New Jungle" camp in Calais, France,...
Calais, France
African migrants carry their possessions as they walk away from "The New Jungle" camp in Calais
African migrants carry their possessions as they walk away from "The New Jungle" camp in Calais, France, August 4, 2015. Many of the camp's inhabitants stay there during daylight hours, prior to heading for the Channel tunnel, where they attempt to illegally jump onto moving freight trains bound for Britain. REUTERS/Peter Nicholls
EUROPE-MIGRANTS/CALAIS
RTX1N1HI
August 04, 2015
African migrants carry their possessions as they walk away from "The New Jungle" camp in Calais, France,...
Calais, France
African migrants carry their possessions as they walk away from "The New Jungle" camp in Calais
African migrants carry their possessions as they walk away from "The New Jungle" camp in Calais, France, August 4, 2015. Many of the camp's inhabitants stay there during daylight hours, prior to heading for the Channel tunnel, where they attempt to illegally jump onto moving freight trains bound for Britain. REUTERS/Peter Nicholls
CAMBODIA-PROTEST/
RTR4MVSY
January 26, 2015
Housing rights defenders shout from a window as they arrive to the appeals court in Phnom Penh, January...
Phnom Penh, Cambodia
Housing rights defenders shout from window as they arrive to the appeals court in Phnom Penh
Housing rights defenders shout from a window as they arrive to the appeals court in Phnom Penh, January 26, 2015. Ten housing rights defenders and a Buddhist monk, all jailed after peaceful protests in Cambodia's capital Phnom Penh in November last year, heard their appeal verdict today after authorities accused them last year of obstructing public traffic and insulting public officials. REUTERS/Samrang Pring (CAMBODIA - Tags: CIVIL UNREST POLITICS TPX IMAGES OF THE DAY)
SPAIN-ECONOMY/
RTR4GG60
December 02, 2014
ATTENTION EDITORS - SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN...
Madrid, Spain
A boy reacts as he looks out from his window to watch Jose Antonio Giraldo Zacarias and anti-eviction...
ATTENTION EDITORS - SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN
A boy reacts as he looks out from his window to watch Jose Antonio Giraldo Zacarias, 44, and anti-eviction activists celebrate the postponement of Giraldo's eviction in Madrid December 2, 2014. Giraldo Zacarias, a former landscape worker for 28 years, stopped making his rent payments to the Municipal Housing and Land Company (EMVS) in 2011, when he became unemployed. His apartment, where he lives with his son after he separated from his wife, was sold by the EMVS to a private investor company that raised the monthly rent by almost two hundred euros, Giraldo says.Their eviction was postponed until January 9, 2015 thanks to the help of the Mortgage Victims Platform (PAH).
REUTERS/Susana Vera (SPAIN - Tags: SOCIETY POVERTY REAL ESTATE BUSINESS)
FRANCE-ART/
RTR4BGBD
October 24, 2014
Alain Le Yaouanc, a 74-year-old French artist, displays a photo which shows himself (L) and French poet...
Paris, France
Alain Le Yaouanc, a 74-year-old French artist, poses in his apartment and studio in Paris
Alain Le Yaouanc, a 74-year-old French artist, displays a photo which shows himself (L) and French poet and novelist Louis Aragon (R) as he poses in his apartment and studio in Paris October 23, 2014. Le Yaouanc, whose works have been shown with some of the important names in 20th century art, Miro, Max Ernst, Picasso and Giacometti, was evicted from his apartment on Friday as his unpaid debts increased. Picture taken October 23, 2014. REUTERS/Charles Platiau (FRANCE - Tags: SOCIETY)
FRANCE-ART/
RTR4BG7Z
October 24, 2014
Alain Le Yaouanc, a 74-year-old French artist, sits on a sofa in the courtyard of his building after...
Paris, France
Alain Le Yaouanc, a 74-year-old French artist, sits on a sofa in the courtyard of his building after...
Alain Le Yaouanc, a 74-year-old French artist, sits on a sofa in the courtyard of his building after he was evicted from his apartment and studio October 24, 2014 in Paris. Le Yaouanc, whose works have been shown with some of the important names in 20th century art, Miro, Max Ernst, Picasso and Giacometti, was evicted as his unpaid debts increased. REUTERS/Charles Platiau (FRANCE - Tags: SOCIETY TPX IMAGES OF THE DAY)
Spanish Crisis
Spanish Crisis
Evictions - 24 Oct 2014
24 PICTURES
SPAIN-ECONOMY/
RTR45EEB
September 08, 2014
Samira Ali (L) is comforted by an anti-eviction activist inside her home before learning that her eviction...
Madrid, Spain
Samira Ali is comforted by an anti-eviction activist inside her home before learning that her eviction...
Samira Ali (L) is comforted by an anti-eviction activist inside her home before learning that her eviction had been temporally suspended, in the outskirts of Madrid September 8, 2014. Ali, 24, and her husband Otman, 25, have been occupying the house, that belongs to Goldman Sachs-Azora for the last nine months. She is unemployed and her husband earns about 450 Euros in a part-time job. REUTERS/Andrea Comas (SPAIN - Tags: SOCIETY POVERTY BUSINESS REAL ESTATE)
SPAIN/
RTR3W2T4
June 27, 2014
Anti-eviction activists embrace and cry after the eviction of a family in Madrid June 27, 2014. Jorge...
Madrid, Spain
Anti-eviction activists embrace and cry after the eviction of a family in Madrid
Anti-eviction activists embrace and cry after the eviction of a family in Madrid June 27, 2014. Jorge Manuel Aviles, 57, and his wife Yolanda De Diego, 26, lived in the home that belongs to Kutxabank with their three sons, who are nine and three years and about 20 days old. The family has been occupying the house for the last nine months. Both parents are currently unemployed and are living on subsidies. REUTERS/Andrea Comas (SPAIN - Tags: REAL ESTATE BUSINESS SOCIETY POVERTY)
SPAIN/
RTR3Q61I
May 21, 2014
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN

Yolanda...
Madrid, Spain
Yolanda de Diego celebrates with her sons Elias and Alex and anti-eviction activists, after learning...
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN

Yolanda de Diego (R), who is 39 weeks pregnant, celebrates with her sons Elias and Alex (R) and anti-eviction activists, after learning that her eviction had been temporally suspended, in Madrid May 21, 2014. De Diego, 26, lives in the home with her husband Jorge Manuel Aviles, 57, and their two sons, who are three and nine years old. The family has been occupying the house for the last eight months. Both parents are currently unemployed and are living on subsidies. The eviction has been suspended for about a month due to De Diego's pregnancy and the family is trying to negotiate with Kutxabank for a social rent. REUTERS/Andrea Comas (SPAIN - Tags: POLITICS BUSINESS SOCIETY POVERTY)
U.S. Financial Crisis
U.S. Financial Crisis
California's Bankrupt Cities - 14 May 2014
19 PICTURES
SPAIN/
RTR3MMLP
April 25, 2014
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN...
Madrid, Spain
Ludwing, son of Luis Gregorio Paulino Hernandez and Suleyra Marilin Trinidad, leans on a wall as he waits...
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN
Thirteen-year-old Ludwing, son of Luis Gregorio Paulino Hernandez and Suleyra Marilin Trinidad, leans on a wall as he waits for his family's eviction in Madrid April 25, 2014. Trinidad's husband Luis Gregorio Paulino Hernandez signed a lease for 350 euros per month for an apartment in Madrid where the family moved last November. In February they received an eviction notice demanding them to vacate the property, which belongs to Spanish nationalized lender Bankia. "I was deceived. I signed a false contract with someone who pretended to be the rightful owner of the flat, but wasn't. Later I found out that the same thing had happened to other people", Paulino Hernandez says. The family tried to negotiate with Bankia to stay in the home and pay social rent, but to no avail. Paulino Hernandez lost his job in construction almost two years ago and his unemployment benefits have run out. Both him and his wife live on doing occasional odd jobs, him as a computer technician and her as a house cleaner, but they don't make enough money to rent an apartment in the free market and put food on the table, Paulino Hernandez says. REUTERS/Susana Vera (SPAIN - Tags: BUSINESS SOCIETY POVERTY REAL ESTATE TPX IMAGES OF THE DAY)
SPAIN/
RTR3KV72
April 11, 2014
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN...
Madrid, Spain
Dayana Chasi Saavedra looks through window after news that their eviction was not going to be carried...
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN

Dayana Chasi Saavedra, 3, looks through the window after news that their eviction was not going to be carried out, in Madrid April 11, 2014. Listeh Saavedra, 22, lives in the home with her husband Jimmy Chasi Sanguna, their two daughters, her in-laws and her brothers-in-law. The Chasi Sanguna family, who moved to Spain from Ecuador, are facing eviction as they were unable to keep up with their mortgage payments, after all family members lost their jobs in the construction and auto repair sectors between 2010 and 2011. Currently, only one of the sons, Franklin Chasi Sanguna, is employed, and his brother Henri does the occasional odd job. Their eviction was not carried out in the end because the family reached a last minute agreement with Spanish nationalized lender Bankia to leave their home within a month, and move to a Bankia social rent flat at 150 euros per month, Franklin Chasi Sanguna said. REUTERS/Susana Vera (SPAIN - Tags: SOCIETY BUSINESS CIVIL UNREST TPX IMAGES OF THE DAY)
USA/
RTR3IWUP
March 27, 2014
Realtor Helen Riley (L) and Fafie Moore, a Reality Executives owner/broker, leave a home being offered...
Henderson, UNITED STATES
Realtor Helen Riley and Fafie Moore, a Reality Executives owner/broker, leave a home being offered for...
Realtor Helen Riley (L) and Fafie Moore, a Reality Executives owner/broker, leave a home being offered for sale in Henderson, Nevada April 8, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWUO
March 27, 2014
Fafie Moore (L), a Reality Executives owner/broker, and realtor Helen Riley look over the backyard of...
Henderson, UNITED STATES
Fafie Moore , a Reality Executives owner/broker, and realtor Helen Riley look over the backyard of a...
Fafie Moore (L), a Reality Executives owner/broker, and realtor Helen Riley look over the backyard of a home being offered for sale in Henderson, Nevada April 8, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTERS/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWUM
March 27, 2014
Carpenters frame a home at a residential construction site in the west side of the Las Vegas Valley in...
Las Vegas, UNITED STATES
Carpenters frame a home at a residential construction site in the west side of the Las Vegas Valley in...
Carpenters frame a home at a residential construction site in the west side of the Las Vegas Valley in Las Vegas, Nevada April 5, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTERS/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWUL
March 27, 2014
Carpenters frame a home at a residential construction site in the west side of the Las Vegas Valley in...
Las Vegas, UNITED STATES
Carpenters frame a home at a residential construction site in the west side of the Las Vegas Valley in...
Carpenters frame a home at a residential construction site in the west side of the Las Vegas Valley in Las Vegas, Nevada April 5, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTERS/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWUK
March 27, 2014
Fafie Moore (L), a Reality Executives owner/broker, and realtor Helen Riley look over a home being offered...
Henderson, UNITED STATES
Fafie Moore , a Reality Executives owner/broker, and realtor Helen Riley look over a home being offered...
Fafie Moore (L), a Reality Executives owner/broker, and realtor Helen Riley look over a home being offered for sale in Henderson, Nevada April 8, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWRE
March 27, 2014
Roofers work on new homes at a residential construction site in the west side of the Las Vegas Valley...
Las Vegas, UNITED STATES
Roofers work on new homes at a residential construction site in the west side of the Las Vegas Valley...
Roofers work on new homes at a residential construction site in the west side of the Las Vegas Valley in Las Vegas, Nevada April 5, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTERS/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWRC
March 27, 2014
Roofers work on new homes at a residential construction site in the west side of the Las Vegas Valley...
Las Vegas, UNITED STATES
Roofers work on new homes at a residential construction site in the west side of the Las Vegas Valley...
Roofers work on new homes at a residential construction site in the west side of the Las Vegas Valley in Las Vegas, Nevada April 5, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTERS/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWRB
March 27, 2014
A view of a neighborhood with three story homes in Las Vegas, Nevada April 4, 2013. The buying of foreclosed...
Las Vegas, UNITED STATES
A view of a neighborhood with three story homes in Las Vegas
A view of a neighborhood with three story homes in Las Vegas, Nevada April 4, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWRA
March 27, 2014
A carpenter works on a new home at a residential construction site in the west side of the Las Vegas...
Las Vegas, UNITED STATES
A carpenter works on a new home at a residential construction site in the west side of the Las Vegas...
A carpenter works on a new home at a residential construction site in the west side of the Las Vegas Valley in Las Vegas, Nevada April 5, 2013. Las Vegas Strip casinos are shown in the background. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWR8
March 27, 2014
Kay Chapman in her neighborhood in Las Vegas, Nevada April 4, 2013. Chapman and her boyfriend are homing...
Las Vegas, UNITED STATES
Kay Chapman in her neighborhood in Las Vegas
Kay Chapman in her neighborhood in Las Vegas, Nevada April 4, 2013. Chapman and her boyfriend are homing to buy a home in the neighborhood at auction. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWR6
March 27, 2014
Kay Chapman sits on the roof of her rented home in Las Vegas, Nevada April 4, 2013. Chapman and her boyfriend...
Las Vegas, UNITED STATES
Kay Chapman sits on the roof of her rented home in Las Vegas
Kay Chapman sits on the roof of her rented home in Las Vegas, Nevada April 4, 2013. Chapman and her boyfriend are homing to buy a home in the neighborhood at auction. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWR5
March 27, 2014
Key boxes are shown at vacant home in North Las Vegas, Nevada April 2, 2013. A neighbor said it has been...
NORTH LAS VEGAS, UNITED STATES
Key boxes are shown at vacant home in North Las Vegas
Key boxes are shown at vacant home in North Las Vegas, Nevada April 2, 2013. A neighbor said it has been vacant for about six months. (1513 Splinter Rock, North Las Vegas) The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWR4
March 27, 2014
A sign is posted outside a vacant HUD home in North Las Vegas, Nevada April 2, 2013. A neighbor said...
NORTH LAS VEGAS, UNITED STATES
A sign is posted outside a vacant HUD home in North Las Vegas
A sign is posted outside a vacant HUD home in North Las Vegas, Nevada April 2, 2013. A neighbor said that it has been vacant for about two years. (1524 Gaber Court, North Las Vegas) The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWR3
March 27, 2014
A vacant HUD home, right, is shown in North Las Vegas, Nevada April 2, 2013. A neighbor said that it...
NORTH LAS VEGAS, UNITED STATES
A vacant HUD home is shown in North Las Vega
A vacant HUD home, right, is shown in North Las Vegas, Nevada April 2, 2013. A neighbor said that it has been vacant for about two years. (1524 Gaber Court, North Las Vegas) The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWR2
March 27, 2014
A vacant HUD home is shown in North Las Vegas, Nevada April 2, 2013. A neighbor said that it has been...
NORTH LAS VEGAS, UNITED STATES
A vacant HUD home is shown in North Las Vega
A vacant HUD home is shown in North Las Vegas, Nevada April 2, 2013. A neighbor said that it has been vacant for about two years. (1524 Gaber Court, North Las Vegas) The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWR1
March 27, 2014
A vacant home is shown in North Las Vegas, Nevada April 2, 2013. A neighbor said it has been vacant for...
NORTH LAS VEGAS, UNITED STATES
A vacant home is shown in North Las Vegas
A vacant home is shown in North Las Vegas, Nevada April 2, 2013. A neighbor said it has been vacant for about six months. (1513 Splinter Rock, North Las Vegas) The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWR0
March 27, 2014
A road is shown under construction at the Mountain's Edge master planned community in the southwest west...
Las Vegas, UNITED STATES
A road is shown under construction at the Mountain's Edge master planned community in the southwest west...
A road is shown under construction at the Mountain's Edge master planned community in the southwest west part of the Las Vegas Valley, in Nevada April 1, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWQZ
March 27, 2014
Las Vegas Strip casinos are seen in the background as earth movers prepare the desert for new homes at...
Las Vegas, UNITED STATES
Las Vegas Strip casinos are seen in the background as earth movers prepare the desert for new homes at...
Las Vegas Strip casinos are seen in the background as earth movers prepare the desert for new homes at the Mountain's Edge master planned community in the southwest west part of the Las Vegas Valley, in Nevada April 1, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTERS/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWQY
March 27, 2014
A the front door of a vacant home is shown in North Las Vegas, Nevada April 2, 2013. A neighbor said...
NORTH LAS VEGAS, UNITED STATES
A the front door of a vacant home is shown in North Las Vegas
A the front door of a vacant home is shown in North Las Vegas, Nevada April 2, 2013. A neighbor said it has been vacant for about six months. (1513 Splinter Rock, North Las Vegas) The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWQX
March 27, 2014
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west...
Las Vegas, UNITED STATES
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west...
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west part of the Las Vegas Valley, in Nevada April 1, 2013. A supervisor at the pour said he had recently added 15 new workers to keep up with demand. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWQW
March 27, 2014
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west...
Las Vegas, UNITED STATES
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west...
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west part of the Las Vegas Valley, in Nevada April 1, 2013. A supervisor at the pour said he had recently added 15 new workers to keep up with demand. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
USA/
RTR3IWQV
March 27, 2014
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west...
Las Vegas, UNITED STATES
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west...
A crew pours a slab for a new home at the Mountain's Edge master planned community in the southwest west part of the Las Vegas Valley, in Nevada April 1, 2013. A supervisor at the pour said he had recently added 15 new workers to keep up with demand. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas. REUTER/Steve Marcus (UNITED STATES - Tags: REAL ESTATE BUSINESS CONSTRUCTION)
SPAIN/
RTR3I22V
March 21, 2014
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN

Liseth...
Madrid, Spain
Liseth Saavedra looks out the window as her daughter Daniela sleeps while they wait for the judicial...
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN

Liseth Saavedra looks out the window as her daughter Daniela sleeps while they wait for the judicial commission to carry out their eviction in Madrid March 21, 2014. Saavedra, 22, lives in the home with her husband Jimmy Chasi Sanguna, their two daughters, her in-laws and her brothers-in-law, Henri and Franklin. The Chasi Sanguna family, which came from Ecuador, faces eviction as they were unable to keep up with the mortage. Franklin and Henri lost their jobs in construction in 2010 and went on to work in their father's auto shop, which went out of business in 2011. Currently, only Franklin is employed, as a car painter three months ago, and Henri does the occasional odd job. Their eviction by Spanish nationalized lender Bankia has been postponed to April 11 due to a lack of police officers to carry it out, according to the judicial commission, Franklin said. REUTERS/Susana Vera (SPAIN - Tags: REAL ESTATE BUSINESS POLITICS)
SPAIN/
RTR3G49N
March 06, 2014
Isabel Morales Bachiller (L), 35, reacts next to a television screen with Spanish Prime Minister Mariano...
Madrid, Spain
Isabel Morales Bachiller, 35, reacts before learning that the eviction of her family has been temporarily...
Isabel Morales Bachiller (L), 35, reacts next to a television screen with Spanish Prime Minister Mariano Rajoy seen on it, before learning that the eviction of her family has been temporarily suspended in Madrid March 6, 2014. Morales, her husband Amalio Barrul Jimenez, 41, and their three children have been occupying the house that belongs to Spanish nationalized lender Bankia for about two years. Both parents are currently unemployed and they live on subsidies. The eviction was temporarily suspended due to ongoing negotiations with the bank. REUTERS/Andrea Comas (SPAIN - Tags: REAL ESTATE BUSINESS SOCIETY POVERTY)
SPAIN/
RTR3G06Q
March 04, 2014
Claudia, a roommate of Andres Gonzalez Manzano, sleeps wrapped in a blanket next to their belongings...
Madrid, Spain
Claudia, a roommate of Manzano, sleeps wrapped in a blanket next to their belongings at their building's...
Claudia, a roommate of Andres Gonzalez Manzano, sleeps wrapped in a blanket next to their belongings and a couple of friends at their building's lobby after they were evicted from the apartment Manzano was renting in Madrid March 3, 2014. Manzano, a former construction worker and private guard who is 33% disabled in his right arm, stopped making his rent payments to the Municipal Housing and Land Company (EMVS) in October 2010, soon after his wife passed away. Manzano says he gets 426 euros ($585) per month from the state, but his monthly rent is 568 euros ($780) and he cannot afford to pay it. His apartment, where he was living with three other unemployed people, was sold by the EMVS to a private investor company who carried out his eviction on Monday. REUTERS/Susana Vera (SPAIN - Tags: SOCIETY BUSINESS)
SPAIN/
RTX199RV
February 21, 2014
Eva Borja Jimenez, 35, waits for the judicial commission to carry out her eviction in Madrid, February...
Madrid, Spain
Eva Borja Jimenez waits for the judicial commission to carry out her eviction in Madrid
Eva Borja Jimenez, 35, waits for the judicial commission to carry out her eviction in Madrid, February 21, 2014. Borja Jimenez and her husband Arturo Suarez Cadiz, 35, have been occupying a flat of Madrid's Municipal Housing and Land Company (EMVS) for the past sixteen years. The flat was owned by a relative of theirs who moved away in 1998 leaving a housing debt behind. The couple moved into his vacant apartment, fixed it and raised their three children there. Everyone in the family is currently unemployed and struggle to find odd jobs.Since their unemployment benefits have run out, the couple, who are expecting their fourth child, get by peddling clothes in street markets. The EMVS has not been willing to negotiate with them on the payment of social rent for the flat, on the grounds that they are squatting. Their eviction was postponed until April 11 thanks to the help of the Mortgage Victims Platform (PAH). REUTERS/Susana Vera (SPAIN - Tags: SOCIETY POVERTY REAL ESTATE BUSINESS TPX IMAGES OF THE DAY)
SPAIN/
RTX199RQ
February 21, 2014
Isabel Cadiz Maya, 62, prays next to the photo of her late husband Jose as she waits for the judicial...
Madrid, Spain
Isabel Cadiz Maya prays next to the photo of her late husband Jose as she waits for the judicial commission...
Isabel Cadiz Maya, 62, prays next to the photo of her late husband Jose as she waits for the judicial commission to carry out the eviction of her son Arturo Suarez Cadiz and his family in Madrid, February 21, 2014. Arturo Suarez Cadiz, 35, and his wife Eva Borja Jimenez, 35, have been occupying a flat of Madrid's Municipal Housing and Land Company (EMVS) for the past sixteen years. The flat was owned by a relative of theirs who moved away in 1998 leaving a housing debt behind. The couple moved into his vacant apartment, fixed it and raised their three children there. Everyone in the family is currently unemployed and struggle to find odd jobs. Since their unemployment benefits have run out, the couple, who are expecting their fourth child, get by peddling clothes in street markets. The EMVS has not been willing to negotiate with them on the payment of social rent for the flat, on the grounds that they are squatting. Their eviction was postponed until April 11 thanks to the help of the Mortgage Victims Platform (PAH). REUTERS/Susana Vera (SPAIN - Tags: SOCIETY POVERTY REAL ESTATE BUSINESS TPX IMAGES OF THE DAY)
SPAIN/
RTX186AP
February 03, 2014
Two anti-eviction activists share a moment after finding out that the eviction of Maria Jose Alonso Serrano,...
Madrid, Spain
Two anti-eviction activists share a moment after finding out that the eviction of Maria Jose Alonso Serrano...
Two anti-eviction activists share a moment after finding out that the eviction of Maria Jose Alonso Serrano, 45, had been suspended in Madrid February 3, 2014. Alonso Serrano, who's been out of a job for almost two years after being diagnosed with breast cancer, stopped making her rent payments last July. She receives 375 euros per month from the state, but that is not enough to pay for rent and food. Alonso Serrano shares the apartment with two friends of hers and the son of one of them. They are also unemployed and have no other housing alternatives. The eviction was finally suspended with the help of members of the Mortgage Victim's Platform (PAH). REUTERS/Susana Vera (SPAIN - Tags: SOCIETY POVERTY)
SPAIN/
RTX186AM
February 03, 2014
Olga Lopez Buitrago cries next to a friend after finding out that her eviction had been suspended in...
Madrid, Spain
Olga Lopez Buitrago cries next to a friend after finding out that her eviction had been suspended in...
Olga Lopez Buitrago cries next to a friend after finding out that her eviction had been suspended in Madrid February 3, 2014. Lopez Buitrago moved with her 5-year-old son to the home her friend Maria Jose Alonso Serrano was renting in Madrid. Alonso Serrano, who's been out of a job for almost two years after being diagnosed with breast cancer, stopped making her rent payments last July. She receives 375 euros per month from the state, but that is not enough to pay for rent and food. Alonso Serrano shares the apartment with Lopez Buitrago, her son, and friend Silvia Asensio Duque. They are also unemployed and have no other housing alternatives. The eviction was finally suspended with the help of members of the Mortgage Victim's Platform (PAH). REUTERS/Susana Vera (SPAIN - Tags: SOCIETY POVERTY)
SPAIN/
RTX16EH2
December 11, 2013
John Jairo Nanez Betancur reacts as he waits to get evicted from his home in Madrid December 11, 2013....
Madrid, Spain
Nanez Betancur reacts as he waits to get evicted from his home in Madrid
John Jairo Nanez Betancur reacts as he waits to get evicted from his home in Madrid December 11, 2013. Nanez Betancur, who came from Colombia, bought a house in Madrid in 2005, but in 2010 he was fired from his job as a telemarketing operator and stopped being able to afford his mortgage payments. He was currently sharing his flat with an unemployed couple and their daughter. Their eviction by Spanish nationalized lender Bankia was carried out despite efforts of anti-eviction activists to stop it. REUTERS/Susana Vera (SPAIN - Tags: CIVIL UNREST BUSINESS SOCIETY)
SPAIN/
RTX16EGS
December 11, 2013
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN
Nicole...
Madrid, Spain
Nicole Marin, 4, sits surrounded by some of her family's belongings as she prepares to leave her home...
ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN
Nicole Marin, 4, sits surrounded by some of her family's belongings as she prepares to leave her home before her family's eviction in Madrid December 11, 2013. Marin lives with her mother Betsi Ojeda and partner Jose Arcila at the flat of John Jairo Nanez Betancur. Nanez Betancur, who came from Colombia, bought a house in Madrid in 2005, but in 2010 he was fired from his job as a telemarketing operator and stopped being able to afford his mortgage payments. Their eviction by Spanish nationalized lender Bankia was carried out despite efforts of anti-eviction activists to stop it. REUTERS/Susana Vera (SPAIN - Tags: CIVIL UNREST BUSINESS SOCIETY)
SPAIN/
RTX15XYS
November 29, 2013
Carmen Carmona reacts as she waits to get evicted by the Municipal Housing and Land Company (EMVS) in...
Madrid, Spain
Carmona reacts as she waits to get evicted by the EMVS in Madrid
Carmen Carmona reacts as she waits to get evicted by the Municipal Housing and Land Company (EMVS) in Madrid November 29, 2013. Carmona lived with her mother Pilar Amador, two brothers and nephew in the social rent flat in Madrid, since the family moved there in 1998. Most of the adults in the family do not hold a steady job, and the family fell behind with rent payments. The EMVS sent the family an eviction notice, despite their attempt to repay their outstanding debts. The family was able to postpone their eviction on two previous occasions, but EMVS finally went ahead with the eviction on Friday. REUTERS/Susana Vera (SPAIN - Tags: BUSINESS SOCIETY POVERTY REAL ESTATE)
SPAIN/
RTX143PH
October 08, 2013
Maira Jumbo, who holds dual citizenship in Spain and Ecuador, reacts next to her husband Francisco Masiche...
Madrid, Spain
Maira Jumbo reacts next to her husband as they wait for the judicial commission before learning that...
Maira Jumbo, who holds dual citizenship in Spain and Ecuador, reacts next to her husband Francisco Masiche as they wait for the judicial commission before learning that their family's eviction had been suspended, at their home in Madrid October 8, 2013. Maira Jumbo, who works as a part-time cleaner, and her husband, unemployed, received an eviction notice as they could not afford their mortgage payments to Spanish nationalized lender Bankia from 2011. The couple lives in the house with their three-year-old son Erik. REUTERS/Juan Medina (SPAIN - Tags: TPX IMAGES OF THE DAY BUSINESS REAL ESTATE EMPLOYMENT SOCIETY POVERTY)
SPAIN/
RTX142UX
October 07, 2013
Ramiro Ortiz Bermudez looks his belongings at the flat roof after learning that the family's eviction...
Madrid, Spain
Ramiro Ortiz Bermudez looks his belongings at the flat roof after learning that the family's eviction...
Ramiro Ortiz Bermudez looks his belongings at the flat roof after learning that the family's eviction had been suspended, in Madrid October 7, 2013. Ramiro Ortiz and his wife Aura Nelly Restrepo bought a house in 2003. But in 2011 Aura Nelly was fired from her job as a bakery worker and Ramiro Ortiz lost his job as a caretaker in 2012 and could not afford to pay the mortgage. REUTERS/Juan Medina(SPAIN - Tags: BUSINESS CIVIL UNREST REAL ESTATE EMPLOYMENT)
SPAIN/
RTR3FJXB
October 03, 2013
Carolina Gonzalez, 39, and her three and four-year-old children stand in a street with their dogs and...
Malaga, Spain
Gonzalez and her children stand in a street with their dogs and belongings after Spanish riot police...
Carolina Gonzalez, 39, and her three and four-year-old children stand in a street with their dogs and belongings after Spanish riot police evicted them from an unoccupied building of flats in Malaga, southern Spain October 3, 2013. A total of 13 families, included 12 children, had occupied the building since February. Members from various support platforms failed to stop the eviction and three activists were arrested when they refused to leave the roof of building, according to local media. REUTERS/Jon Nazca (SPAIN - Tags: CIVIL UNREST POLITICS BUSINESS REAL ESTATE SOCIETY) ATTENTION EDITORS: SPANISH LAW REQUIRES THAT THE FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN
SPAIN/
RTX142IH
September 27, 2013
Hazar Abbara hugs her neighbour Angeles Romero Fernandez (R) on a bed outside the apartment where Romero...
Madrid, Spain
Abbara hugs neighbour Romero Fernandez on bed outside apartment where Romero Fernandez and family were...
Hazar Abbara hugs her neighbour Angeles Romero Fernandez (R) on a bed outside the apartment where Romero Fernandez and her family were evicted from two days ago in Madrid September 27, 2013. Rodriguez Romero lived with her husband, daughter and parents in a social rent flat of the Municipal Housing and Land Company (EMVS) in Madrid. With everyone out of job, the family fell behind with the payments resulting in debt. Despite paying off their debt, the EMVS told them to move out, Rodriguez Romero says. The family lives on benefits for the disabled (Rodriguez Romero's mother suffers from bipolar syndrome and her father has a degenerative disease) as well as Rodriguez Romero's father's pension. Their eviction was executed two days ago, on September 25, 2013, despite efforts of anti-eviction activists to stop it. Abbara is also at risk of being evicted from her home. REUTERS/Susana Vera (SPAIN - Tags: SOCIETY POVERTY REAL ESTATE BUSINESS CIVIL UNREST)
SPAIN/
RTX142IG
September 27, 2013
ATTENTION EDITORS : SPANISH LAW REQUIRES THAT FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN

Maria...
Madrid, Spain
Maria and husband Ferrer sleep next to daughter outside apartment where they were evicted from two days...
ATTENTION EDITORS : SPANISH LAW REQUIRES THAT FACES OF MINORS ARE MASKED IN PUBLICATIONS WITHIN SPAIN

Maria Isabel Rodriguez Romero and her husband Benigno Ferrer (under white blanket) sleep next to their daughter Maria Isabel Ferrer Rodriguez, 8, (top L) outside the apartment where they were evicted from two days ago in Madrid September 27, 2013. Rodriguez Romero lived with her husband, daughter and parents in a social rent flat of the Municipal Housing and Land Company (EMVS) in Madrid. With everyone out of job, the family fell behind with the payments resulting in debt. Despite paying off their debt, the EMVS told them to move out, Rodriguez Romero says. The family lives on benefits for the disabled (Rodriguez Romero's mother suffers from bipolar syndrome and her father has a degenerative disease) as well as Rodriguez Romero's father's pension. Their eviction was executed two days ago, on September 25, 2013, despite efforts of anti-eviction activists to stop it. An anti-eviction activist and her daughter (L, bottom) are seen sleeping next to the Rodriguez Romero family while others sit nearby (top). REUTERS/Susana Vera (SPAIN - Tags: SOCIETY POVERTY REAL ESTATE BUSINESS CIVIL UNREST TPX IMAGES OF THE DAY)
SPAIN/
RTX13KCG
September 13, 2013
Rafael Hilario Gomez Garcia, 41, who came from Peru, takes a rest with anti-eviction activists from the...
Madrid, Spain
Gomez Garcia takes a rest with anti-eviction activists inside his house as they wait for decision about...
Rafael Hilario Gomez Garcia, 41, who came from Peru, takes a rest with anti-eviction activists from the Mortgage Victims Platform (PAH) inside his house as they wait for the judicial commission to decide about his eviction, in Madrid September 13, 2013. Gomez Garcia's eviction was eventually suspended due to his lawyer's ongoing negotiations with nationalized lender Bankia in an effort to guarantee a lower and more affordable rent for his social rent flat. REUTERS/Juan Medina (SPAIN - Tags: CRIME LAW CIVIL UNREST REAL ESTATE BUSINESS)
SPAIN/
RTX13J66
September 12, 2013
A worn-out Dolores Ferrer, 34, lies on a rug in the commons area of her apartment building after news...
Madrid, Spain
A worn-out Dolores Ferrer, 34, lies on a rug in the commons area of her apartment building after news...
A worn-out Dolores Ferrer, 34, lies on a rug in the commons area of her apartment building after news that her eviction had been put off indefinitely in Madrid September 12, 2013. Ferrer, a victim of domestic violence, lives in a tiny flat owned by Madrid's Municipal Housing and Land Company (EMVS) that she occupied 17 years ago with the man who became her husband, father of her two children and her abuser and who is serving a jail sentence. Ferrer became unemployed two years ago and struggles to put food on the table. She tried to negotiate with the EMVS to pay a social low rent, but to no avail. However, a judge ordered her eviction to be put off indefinitely the day before it was scheduled to be carried out. REUTERS/Susana Vera (SPAIN - Tags: SOCIETY BUSINESS EMPLOYMENT POLITICS REAL ESTATE)
USA-HOMES/FLIPS
RTX12H2J
August 11, 2013
Lender Jan Brzeski walks into the bedroom of a multi-million dollar home that was part of a spec renovation...
Los Angeles, UNITED STATES
Lender Brzeski walks into the bedroom of a multi-million dollar home that was part of a spec renovation...
Lender Jan Brzeski walks into the bedroom of a multi-million dollar home that was part of a spec renovation project he worked on with developer Scott Ryan in the Hollywood Hills area of Los Angeles, California August 5, 2013. Brzeski is a private money lender running an investment firm in Los Angeles that provides loans to house flippers, investors who buy a home, refurbish it, and sell it on at a profit. Many flippers go to money lenders because they can't get banks to provide such short-term, quick financing. Eighteen months ago Brzeski and his firm, Arixa Capital Advisors, were lending investor money to flippers on very different properties: $250,000 single family homes in southern California's up-and-coming low to middle class blue-collar neighborhoods. Most of the deals involved foreclosed homes that were totally refurbished, and then sold quickly. Brzeski now focuses on developers working on high-end flips of mansions and townhouses in exclusive neighborhoods, such as the Hollywood Hills and Bel Air. There has been a surge in high-end and luxury flipping nationwide. Between 2011 and today, flips of homes valued at $1 million or more have risen almost 40 percent across the United States, according to RealtyTrac, the housing data company. Picture taken August 5, 2013. To match Insight USA-HOMES/FLIPS REUTERS/Jason Redmond (UNITED STATES - Tags: BUSINESS SOCIETY REAL ESTATE)
USA-HOMES/FLIPS
RTX12H2I
August 11, 2013
A view of the master bedroom in a multi-million dollar home that was the spec renovation project of lender...
Los Angeles, UNITED STATES
A view of the master bedroom in a multi-million dollar home that was the spec renovation project of lender...
A view of the master bedroom in a multi-million dollar home that was the spec renovation project of lender Jan Brzeski and developer Scott Ryan is seen in the Hollywood Hills area of Los Angeles, California August 5, 2013. Brzeski is a private money lender running an investment firm in Los Angeles that provides loans to house flippers, investors who buy a home, refurbish it, and sell it on at a profit. Many flippers go to money lenders because they can't get banks to provide such short-term, quick financing. Eighteen months ago Brzeski and his firm, Arixa Capital Advisors, were lending investor money to flippers on very different properties: $250,000 single family homes in southern California's up-and-coming low to middle class blue-collar neighborhoods. Most of the deals involved foreclosed homes that were totally refurbished, and then sold quickly. Brzeski now focuses on developers working on high-end flips of mansions and townhouses in exclusive neighborhoods, such as the Hollywood Hills and Bel Air. There has been a surge in high-end and luxury flipping nationwide. Between 2011 and today, flips of homes valued at $1 million or more have risen almost 40 percent across the United States, according to RealtyTrac, the housing data company. Picture taken August 5, 2013. To match Insight USA-HOMES/FLIPS REUTERS/Jason Redmond (UNITED STATES - Tags: BUSINESS SOCIETY REAL ESTATE)
USA-HOMES/FLIPS
RTX12H2H
August 11, 2013
A view of the master bathroom in a multi-million dollar home that was the spec renovation project of...
Los Angeles, UNITED STATES
A view of the master bathroom in a multi-million dollar home that was the spec renovation project of...
A view of the master bathroom in a multi-million dollar home that was the spec renovation project of lender Jan Brzeski and developer Scott Ryan is seen in the Hollywood Hills area of Los Angeles, California August 5, 2013. Brzeski is a private money lender running an investment firm in Los Angeles that provides loans to house flippers, investors who buy a home, refurbish it, and sell it on at a profit. Many flippers go to money lenders because they can't get banks to provide such short-term, quick financing. Eighteen months ago Brzeski and his firm, Arixa Capital Advisors, were lending investor money to flippers on very different properties: $250,000 single family homes in southern California's up-and-coming low to middle class blue-collar neighborhoods. Most of the deals involved foreclosed homes that were totally refurbished, and then sold quickly. Brzeski now focuses on developers working on high-end flips of mansions and townhouses in exclusive neighborhoods, such as the Hollywood Hills and Bel Air. There has been a surge in high-end and luxury flipping nationwide. Between 2011 and today, flips of homes valued at $1 million or more have risen almost 40 percent across the United States, according to RealtyTrac, the housing data company. Picture taken August 5, 2013. To match Insight USA-HOMES/FLIPS REUTERS/Jason Redmond (UNITED STATES - Tags: BUSINESS SOCIETY REAL ESTATE)
USA-HOMES/FLIPS
RTX12H2G
August 11, 2013
A view of the fireplace and living room in a multi-million dollar home that was the spec renovation project...
Los Angeles, UNITED STATES
A view of the fireplace and living room in a multi-million dollar home that was the spec renovation project...
A view of the fireplace and living room in a multi-million dollar home that was the spec renovation project of lender Jan Brzeski and developer Scott Ryan is seen in the Hollywood Hills area of Los Angeles, California August 5, 2013. Brzeski is a private money lender running an investment firm in Los Angeles that provides loans to house flippers, investors who buy a home, refurbish it, and sell it on at a profit. Many flippers go to money lenders because they can't get banks to provide such short-term, quick financing. Eighteen months ago Brzeski and his firm, Arixa Capital Advisors, were lending investor money to flippers on very different properties: $250,000 single family homes in southern California's up-and-coming low to middle class blue-collar neighborhoods. Most of the deals involved foreclosed homes that were totally refurbished, and then sold quickly. Brzeski now focuses on developers working on high-end flips of mansions and townhouses in exclusive neighborhoods, such as the Hollywood Hills and Bel Air. There has been a surge in high-end and luxury flipping nationwide. Between 2011 and today, flips of homes valued at $1 million or more have risen almost 40 percent across the United States, according to RealtyTrac, the housing data company. Picture taken August 5, 2013. To match Insight USA-HOMES/FLIPS REUTERS/Jason Redmond (UNITED STATES - Tags: BUSINESS REAL ESTATE SOCIETY)
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