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

CALIFORNIA MELTDOWN - March 13 2010.. More evidence of the economic collapse in Northern California. Residential real estate developments empty and abandoned and bankrupted builders. The Sacramento area has been particularly hard hit. Latest figures released quote 13.1% unemployment in the Sacramento area. 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?

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[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

[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]

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

[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

[primoknoxville]

Turn it into a dog park.