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2007-08: Countrywide Financial and the mortgage meltdown, wildfires devastate ...
The mortgage meltdown hit the San Fernando Valley in 2007-08, when a whiffle of home foreclosures and the elimination of 12,000 jobs at Countrywide Financial hinted at the scope of the financial danger to come.
Commercial developers, however, still had high hopes for the region, announcing plans for major projects in Woodland Hills, North Hollywood and Limitless City, and at the Autry Museum in Griffith Park.
Those years also brought heartbreak for hundreds of Valley families, who irreclaimable homes in a series of devastating wildfires.
As the Daily News nears the end of its Centennial series, here are excerpts from prime stories for 2007-08:
After 60 years, Valley hardware store hangs up its tools Rudy Nigro let the years mellow blend away Wednesday as he looked out the front window of his Woodland Hills hardware store.The closed sign would traces up on the front door all day, so Rudy had plenty of time to sit and reminisce as his longtime employees prepared for the going-out-of-business garage sale that starts today.