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California Real Estate Crash Crisis Meltdown – Abandoned residential developments March 28, 2010
August 18th, 2010 | 
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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? WWW.MYMORTGAGENIGHTMARE.COM Please subscribe to my YouTube channel – will be adding more and more footage every week as the economic crisis deepens in 2010.
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Tags: 2010, Abandoned, California, crash, Crisis, developments, Estate, March, Meltdown, real, residential
aussie aussie aussie
@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.
@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.
@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.
@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.
@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.
you should burn down some of those ugly ass houses. They are awful.
An Aussie!
@jawara105 JFK for real.Only the good die young
@hilololomoa You should look up some info on the Community Reinvestment Act. I was started when Jimmy Carter.
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?
bush Real Estate
Thanks for the video. Subscribed and shared.
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!
G’day, well, I recon the shiela’s strine… she sure sounds strine to me.
interesting. Keep em coming!!!
1st.