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L.A. Residence Covered in Trash Sparks Outrage and Attracts ‘Hoarders’ Producer
Trash-covered L.A. home draws outrage and a ‘Hoarders’ producer
For years, mounds and mounds of trash have surrounded a Spanish bungalow in Los Angeles’ Fairfax neighborhood.
The front yard holds hundreds of white trash bags stacked 5 to 6 feet high. The bags are joined by a tangle of buckets and accumulated debris, like shoes, scooters, empty jugs, newspapers, Levi’s jeans and old Parliament cigarette cartons.
The lawn is not visible. A short metal fence cloaked in ivy blocks off the property. The moat of trash in the yard reaches the driveway, encasing a red Toyota Corolla Twin Cam in crumpled tarps, coat hangers, broom handles, coffee cups, more newspaper and more plastic bags.
Nearby, an old downspout has been refashioned into a sign with handwritten instructions to the U.S. Postal Service: “Deposit U.S. mail here,” with an arrow pointing to a bucket on the ground.
Residents in the area have complained to L.A. city officials of overgrown vegetation, mounds of trash, and junk for as long as they can remember. Since last July, the Department of Building and Safety has received more than a dozen complaints related to trash and improper storage at the property, according to city records. The complaints remain under investigation, but the city issued an order to comply in November.
With compliance not in sight and the heaps of trash persisting, the complaints escalated this week, triggered in part by a post on Nextdoor and a report from KTLA on what it called L.A.’s “trash house.” The TV station on Monday broadcast aerial footage of the packed backyard.
“It’s a fire hazard. It’s filthy,” said Miriam Kosberg, whose family has owned the property directly behind the house since 1955. “There’s garbage all the way up to the back fence,” she added, gesturing behind her family’s property.
Kosberg and other residents in the neighborhood have expressed concerns about vermin in the area, with security cameras capturing images of rats prancing on retainer walls. One neighbor mentioned that the property has been a source of complaints since the early 2000s.
The homeowner, Raymond Gaon, has held the two-bedroom bungalow since the mid-1990s, according to public records. Despite previous orders from the city to clean up the property, the trash accumulation has continued over the years.
In recent developments, Courtney Lemarco, executive producer of the TV show “Hoarders,” expressed interest in potentially featuring Gaon’s home on the show. Lemarco hopes to work with Gaon to facilitate a clean-up and address any underlying issues that may be contributing to the hoarding behavior.
As the city works with Gaon to resolve the situation, neighbors and officials are hopeful that a solution can be reached to improve the living conditions for everyone in the area.
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Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.