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Article: Bolsa Chica Plan Makes Home-Ownership Impossible.(Brief Article)
- Article from:
- San Diego Business Journal
- Article date:
- September 4, 2000
- Author:
CopyrightCOPYRIGHT 2000 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Every movement needs a monument, a place where people decided their time for action had come. That place for the legal and housing crisis in California just might be in Huntington Beach.
For it is the Bolsa Chica property in Huntington Beach that gives us one of the most instructive examples of how lawsuit abuse has driven up the cost of housing to catastrophic levels, and driven many California families away from buying their first home.
This story began in the 1960s, when an oil company decided it would convert its 400-some oil wells in a swamp called Bolsa Chica into a residential neighborhood complete with a marina.
By 1972, the plan was so ...