January 11, 2008

Countrywide’s hometown braces for leaner times (Reuters)

The offices of Countrywide Financial Corporation are seen in Calabasas, California, November 20, 2007. It's still too soon to see how much this small but affluent Los Angeles suburb will suffer from an expected restructuring at Countrywide once Bank of America takes over, but further job losses are sure to deal a new blow to a California economy already feeling the effects of the mortgage crisis, including lower tax revenue and slumping home prices. REUTERS/Phil McCartenReuters – Most mornings are sweet at the
Marmalade Cafe, up the street from the Calabasas, California
headquarters of Countrywide Financial Corp. But not this
Friday.

Filed under Real Estate Blog, Real Estate Business by Yahoo! News: Business - Real Estate

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