Beverly Hills, UNITED STATES
To match Feature USA-HOUSING/HILLS
A view of a multi-million dollar home in foreclosure on Rexford Drive in Beverly Hills, California February 3, 2012. Some 180 houses in the 90210 zip code have been foreclosed on by lenders, scheduled for auction, or have been served with a default notice, the highest level since the 2008 financial crash, according to a Reuters analysis of figures compiled by RealtyTrac, which tracks foreclosures nationwide. But the dynamics of the residential real estate collapse are very different in elite neighborhoods such as this. The majority of delinquent homeowners here owe more than $1 million. Many are walking away not because they can't pay, but because they judge it would be foolish to keep doing so. Picture taken February 3, 2012. To match Feature USA-HOUSING/HILLS REUTERS/Jonathan Alcorn (UNITED STATES - Tags: BUSINESS REAL ESTATE)