Despite lashing rainstorms, more than 50 families last month camped out for days in cars and tents around the sales office of the El Toro Sunwood housing development near Los Angeles. Their purpose: to be near the head of the line when 34 new homes, going for $58,000 to $67,000, went on sale. Three weeks ago, 650 people turned up at the sales office of the Leisure World development in Laguna Hills, Calif., to participate in a lottery. Those whose names were drawn from a barrel had the privilege of paying up to...
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