California Real Estate Crash Crisis Meltdown Sacramento March 14, 2010

[theroilsoil]

Eventually, so many locations like this will rot down and be reclaimed by mother earth . . . as they should all be. :)

[theroilsoil]

Great video. We're experiencing the same "ghost town" scenario here along the west coast . . . many foreclosures and bank-owned over-priced shacks also in Belmont Shore, Seal Beach, Newport, Sunset Beach, Huntington Beach, Laguna, DanaPoint, Carlsbad, . . . etc.

The old "location, location, location" mantra means nothing when people keep losing their jobs, especially those in private industry, since they're feeding the other parasites.

Catastrophic protracted collapse here.Grap yer popcorn :)

[theroilsoil]

ALL realstate will crash, and income lifted by landlords will also crash as prices for daily necessities rise and people lose more and more jobs . . . it's just logical.

[pickupcorn]

G'day Kirsten, So, I take it from this video that things are not getting any better?

[fergiebear]

There will be no next boom because we will all be working at Kmart or Walmart making 18k a year!!!

[vsaldanas]

one out of every three californias that have a home mortgage, are not making their payments As of Todays reports on bloomberg and San Jose Mercury News. 2-18-11. The housing meltdown of 2011 is going to be three times as worst has in 2007 and 2008.

[EconCat88]

Hopefully mother nature takes back some of that territory. You are awesome.

[truthsabre7]

Housing price will become 1 oz of gold will equal one house.

[jvolstad]

Wait a minute. Realtors are telling me know is a great time to buy. And they are professionals. ;-(

[monkeyman1140]

I'd buy one....no neighbors, no HOA.

[supermoto804]

That's what my back yard used too look like until you douche bag Californians moved into Reno Nevada and raped the land with your stucco houses. Oh and thanks for dragging us into your housing mess.

[wyecee]

I bet if Cali. was a white state like Texas or Alabama, it wouldn't be strapped on a conveyor belt about to get chopped under 100 big cleavers, but no, it's too infected with "illegal" cancer. Honestly this is where we're headed and we won't survive another 8 months before the next governor.

[jmacx2334]

@wyecee White state?

[wyecee]

@jmacx2334 The old saying "If you ain't white you ain't right".

[chuc555]

What they need to do with this land is knock all that stuff down and raise cows there.

since California doesn't have anymore industry, we need to go back to our roots

and bring back agriculture . It would provide lots of jobs and people wouldn't have to depend on unemployment money . We don't manufacture anything in the US anymore so we have to provide some kind of jobs here. Field work is good honest work! California has some of the best crop land in the world!

[MaryWaterton]

They just kept on building and building... who did they think was going to buy these? How are these developers paying their loans on these properties when they sit empty year after year?

Obvious answer is that the Federal Government is financing it and it will be added to the national debt ... TRILLION upon TRILLION until the dollar collapses. Then we are really in trouble.

[dasani7998]

I am glad I live where I live canada were doing good up here god bless you guys

[Anothercoilgun]

Good video coverage. The situation is the same and word in SoCal. The Inland Empire area is fully abandoned. San Diego has more new yet empty lots as far as the eye can see.

[chuc555]

Great video!

I love your voice and accent!

great reporting keep up the good work!

[smokesignals2012]

What were THEY thinking to decide to build literally under high tension power Lines & next to Sewer plants... go figure? anyhoo... kkkalifornia shall see NO Recovery, NOPE...NADDA...NO HOW EVER... kkkalifornia Is DONE DEAD Son!

[anglitoestebancito]

money