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Touring the wreckage
Program length – 01:04
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California Post-Bubble
Everyone knows that California is broke.
This video takes you on the ground so you can see why. Florida and Nevada have similar scenes..and this is where all the “growth” was in the first half of the 21st century that made investors so confident
Every empty store, every empty house represents a loan that’s not going to get paid back which represents a lender who will have less money to lend.
How long will it take to digest the inventory “overhang” (the real estate equivalent of a hang over?)
I have no idea, but it sure won’t be a year or two. This is a financial apocalypse.
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