Pet real estate prices in doghouse
Goldfish living on the streets. Turtles evicted from their own shells. Lax oversight of animal home loans finally comes home to roost
(roost - get it? Our headline writers love corny puns and wordplay).
By Wilson Daniels, Staff Writer
luxury doghouse
The pet real estate bubble has burst:

• In Laguna Beach, two goldfish were evicted from an aquarium castle last week after a bank foreclosed on the building.

• In Riverside County, a turtle who refinanced to add a second story to his shell is now homeless after falling behind on payments.

• Ant farm prices in L.A. County dipped to $62,000 last month, their lowest level since 1998.

luxury birdhouse As several congressmen called for a ban on adjustable-rate loans to animals, a spokesman for PETA (People for the Ethical Treatment of Animals) blamed the crisis on a spillover from the human mortgage meltdown.

However, economists say PETA itself is part of the problem.

"Their big push for cruelty-free product testing backfired," said Harvard economist Mark Karl. "Animals who once earned steady paychecks in corporate laboratories got laid off and now can't pay off their mortgages."

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