Foreclosures Sacramento, Anatolia April 2010

CALIFORNIA MELTDOWN - April 12, 2010.. More evidence of the economic collapse in Northern California. Residential real estate developments blighted by foreclosures and short sales. I counted 1 in 3 houses in this development abandoned or in the foreclosure process. Who is going to buy them? Not enough buyers, even at these prices.

Category:

News & Politics

Tags:

• California
• foreclosure
• economic
• collapse
• 2010
• bankruptcy
• sacramento
• depression
• recession
• small
• business
• real
• estate
• unemployment
• broke
• jobs
• mortgage
• modification
• short
• sale
• deed
• in
• lieu
• homeowner
• hoa
• ghost
• town
• housing
• crash
• bank
• bailout
• HAMP
• tarp
• FICO
• score
• credit
• card
• debt
• student
• loan
• wells
• fargo
• strategic
• default
• walk
• away
• Schiff
• celente
• george4title
• residential
• development
• fox
• news
• oreilly

[bicepsca]

how much are these homes now/

[californiameltdown]

@bicepsca Around the $200'000's. Some one THIRD of their original selling price. I truly think there is a lot more of this to come.

[pickupcorn]

Do you get homeless people "Squatting" in the abandoned homes over there? Have many of these homes been trashed by the people who have been kicked out by the banks?

[californiameltdown]

@pickupcorn some squatting here and there. A lot of foreclosed homes are trashed or "stripped" of their fittings, ie: stoves, fancy appliances, cabinets, hardware, etc.

[skyding8962]

wow crazy. How big was this neighboorhood of foreclosed homes?

[californiameltdown]

@skyding8962 I think about 2300 houses

[TheChuck624]

Nicely done. I can make a lot of comments about this houses because I sold James Hardie siding to a lot of the builder during the building boom. Here are two things; 1st. the buyers who walked away from these properties simply went back to the city, so nothing real bad happened to the. 2nd. we saw the housing bubble getting ready to pop back in 06, so the government and banks acting surprised about it, is a load of poop. A lot of us got out before the bad stuff happened.

[ionthegravity]

SOMEBODY needs to go to jail over this shit!! Throw the POS bankers in with hardended lifers!!

[silverton7777]

Illegal mexicans probably

[jesus57863]

Anatolia was part of the Rancho Cordova Test Site. Once owned by Aerojet Gencorp a govt. contractor. After E.P.A. ended surface dumping 85 million gallons of carcinogenic V.O.C.s were injected into deep wells for disposal. Groundwater contamination extends miles offsite. Anatolia currently steals groundwater from the vineyard area. The rendering plant smell and a great view of the county landfill set the mood at Anatolia. Something dirty has been covered up out here. Any questions?

[TheGreasepit]

You know what?.....Hollywood should roll in, and set up the camera's, and make a movie where every fuckin thing gets blown up. That'd be sweet to see 2300 useless fuckin homes blown into oblivion. Maybe we should buy them, and truck them up here to Canada, lotsa money and work going on here.

[captaindrywall]

also: thank you for the good quality of the video and the over dub off the sound. easy to see, good to hear, keep up the good work, "this is my home town"

[captaindrywall]

I am a simple drywall guy who worked on these houses. Even I thought the prices were crazy at the time. Also the roads to get here do not have proper access, way to much traffic. I know many of you want to live further apart but for the sake of saving gas we need to live closer to work. Where are the family's ?? they movied in with family and friends. thus rents have not gone up.

[August1977]

A house is only worth as much as a fool is willing to pay for it.