Real Estate Collapse - Land of the Dispossessed Part 1

The devastation of the real estate collapse in the High Desert area of Southern California. Thousands of empty foreclosed homes in brand new housing tracts, despite the current foreclosure moratorium. The worse is yet to come when banks resume foreclosures and unemployment checks run out. The main stream media and our leaders should focus on the true battle ground of the economic crisis: Our streets, neighborhoods, schools, and places of work and worship. Families need bailouts, not the super rich corporations of the world.

Category:

News & Politics

Tags:

• economic
• collapse
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• housing
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• foreclosure
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[Cinemaguy2007]

we haven't even started yet. The real collapse is on the way oh btw, what's the name of the mix song?

[joediaz001]

It's called the Terminator Techo Mix

[MaxZagar]

Hey whats the price of a house like this ? Is there water and power available ...

Just let the people live in the houses until new the new sale is settled. The owner would not like the houses to look like them in Detroit (impossible to sell ever)

[joediaz001]

Some of these houses were selling well over 400k at the peak, but now you can buy one of these for about 100k at auction. The problem is no one is buying since there are no jobs in this area (Hesperia, CA).

[joediaz001]

Actually the Hesperia Unified School District built a bunch of brand new schools, very nice ones too. The problem now, is that with all the people leaving the area, they got more schools that they need. They just laid-off like 200+ teachers, and I'm not sure how many other staff god laid off, like bus drivers, kitchen workers, etc.They are talking about closing a couple of schools and laying off more teachers and staff.

[mx444bee]

It breaks my heart that a family with

$25000 income cant afford to live in a

McMansion.

[papatoony]

That's what you get when you pay bubble prices for a house you can't afford in the first place. Kicked to the curb!

[Borat911]

Canada needs a parkinglot !?? 

[pechinrules]

I live in SW Pennsylvania near Pittsburgh and for all of you Californians need to take a drive down the Mon Valley...it is 50 miles from Pittsburgh to Brownsville, Pa. It is where most of the steel mills were...and when the steel industry collapsed in the early 80's it never recovered. There are at least ten to fifteen towns and cities in that fifty miles and most are ghost towns now. Drugs dealing and old people are all that are left living in that area.,and it is coming to a town near YOU!

[drummerg2]

the banks dont loose, congress gave them billions,

[EconCat88]

Great video. I should learn how to post the added visuals like you have here.

[journey344]

i believe that california is gonna sink,,,,,,i wouldn't buy real estate there.

[spectrum2000now]

Good thing that California was slowly recovering from the past crisis. This video, will be able to remind people about the past crisis and learn from it.

[pickupcorn]

G'day, We here in Australia can't build houses fast enough and as most of you probably know after the news coverage of our recently floods are getting too much rain!!!! As an ex-Californian (I was born there and lived there 15 years ago) I wish I could send some of the water and jobs your way. I really feel for you guys as I still have family back there that are suffering. :'o(

[livefreeinuk1]

in ireland we have many 1000 new empty homes. boom or bust

[tubeshow1000]

Where I live Maringá - Brazil is missing worker.