California Real Estate Crash Crisis Meltdown - Abandoned residential developments March 28, 2010

[1ProudFemaleAtheist]

It makes me sick when people talk about huge price reductions as a "tragedy." It's a good thing. Home prices need to be affordable again.

[EconCat88]

And the banks still won't allow true price discovery occur.

Love the accent.

[testbooster]

More vids please...

[theshatnerman4242]

MABY THEY WILL BUILD A WALMART THERE

[ripperduck]

So what made you leave Australia to come to a economic disaster such as CA?

[californiameltdown]

@ripperduck i've lived here for over 10 years

[ripperduck]

@californiameltdown That wasn't the question....

[primoknoxville]

Turn it into a dog park.

[foxbat101]

aussie aussie aussie

[savemyplaylist]

you should burn down some of those ugly ass houses. They are awful.

[n057828]

An Aussie!

[jawara105]

@hilololomoa You should look up some info on the Community Reinvestment Act. I was started when Jimmy Carter.

[savemyplaylist]

@jawara105 You should look up info on the federal reserve who lowered interest rates to 1% and supplied that actual FUNDS to the speculators and foolish home buyers.

[monkeyman1140]

@savemyplaylist

The Federal Reserve holding interest rates down is tantamount to plain straightforward market manipulation. Interest rates should have shot up to curb the excessive growth and reward saving rather than debt spending. That's what keeps bubbles from inflating, but it also prevents profiteering by Wall Street.

[featherriverrafter]

Have you checked out the area of Del Paso Heights in Sacramento area. The houses there are in dangerous neighborhoods. Homes were sold for the $300,000's a few years ago. Now selling for under $100,000. Unbelievable greed and how did these areas get such a high appraised value?

[savemyplaylist]

@featherriverrafter

Greed indeed. The people who were buying those homes with no down payment thinking they could flip them a few years later were the epitome of the greed.

[smb12321]

@featherriverrafter We (TN) are being flooded with escapees from CA with horror stories - runaway taxes, anti-business mood, no jobs, societal divisions, etc. Our new neighbors are from Riverside. Bought a $700,000 home for $650,000 & it just appraised for $325,000. What a disaster.

[monkeyman1140]

@smb12321

what sank california was private business excesses, not runaway taxes, or your "anti-business mood".

First came the energy price manipulations caused by Enron, during Republican Governor Pete Wilson's tenure, causing rolling blackouts despite no actual energy shortages.

Then came the housing bubble, inflated by Wall Street speculation, relaxation of bank regulation by the GOP in 1999, and the liar loans handed out by lenders who knew exactly what they were doing but didn't care.

[HoneySiegalSurvivor]

@monkeyman1140 thks for your information. Enron was in the world trade center that was blown up on 911. Relaxation of bank regulations is an awful kind way to say fraudsters knowingly manipulating and stealing. I have the inside story. The kicker is that it appears all to be funded through lies that I died. The estate of Honey R. Siegal deceased perpetrated by Wells Fargo Bank nwo extending to World Financial Banking through computers programmed by numerous gunafs for R. Nancy Pelosi knows.Honey

[skyding8962]

Thanks for the video. Subscribed and shared.

[laminarflow2006]

Coo-eee!

For a sheila, reckon you doing a fab job of the video posts.

You mentioned that it was in Sac, is that the development off Sunrise, Bradshaw area? I think I have seen those properties while driving through. Keep on truckin!

[davfritz]

G'day, well, I recon the shiela's strine... she sure sounds strine to me.

[EMPIRE0FLIES]

interesting. Keep em coming!!!