The Copes are just two of many in Orange County, formerly the center of the nation’s subprime lending industry, now trying to move on. Nearly 9,000 jobs have been lost there in the past year, with more than 4,000 alone in Irvine, where New Century was based.
Remember when everyone used to say that housing could never fall here like it did in the 90s because we wouldn’t have the massive layoffs like they did in the defense industry then? Perhaps they spoke too soon…
