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Title: Meet The "Million Dollar Shack": Documentary Lays Bare California's Housing Bubble
Source: [None]
URL Source: http://www.zerohedge.com/news/2015- ... are-californias-housing-bubble
Published: Oct 26, 2015
Author: Tyler Durden
Post Date: 2015-10-26 23:55:03 by Horse
Keywords: None
Views: 191
Comments: 16

“It’s almost impossible to find a home from San Jose to San Francisco for less than a million dollars.”

That’s a quote from a short documentary entitled “Million Dollar Shack: Trapped in Silicon Valley's Housing Bubble” which comprises 23 minutes of sheer, unadulterated comedy even as it very effectively critiques the extent to which America has learned absolutely nothing from the meltdown in 2008.

This clip has it all: absurd prices for rundown properties, soaring costs for rentals, even a tent in someone’s backyard that goes for $46 a night (you get an extension cord, one shower a day, and wi-fi) and all courtesy of i) greed, ii) an utter inability to learn from the past, and iii) the meteoric rise of Silicon Valley “unicorns” with stratospheric valuations.

To say “this won’t end well” would be an understatement...


Poster Comment:

The average 2 bedroom apartment in SF rents for $5,000 a month.

It is immigration that is driving prices up.

Post Comment   Private Reply   Ignore Thread  


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#1. To: Horse (#0)

Don't tell it to that apple-cheeked all-amerikan family in the picture. Why burst their bubble?

NeoconsNailed  posted on  2015-10-26   23:59:29 ET  Reply   Trace   Private Reply  


#2. To: Horse (#0)

It is immigration that is driving prices up.

Rather than immigration it's bureaucratic regulations which have put home ownership beyond the reach of many. During pioneering days you could get a log-cutting permit for five dollars; a few hundred spent on sawing and planing lumber and you had enough material to build a debt-free house (and other buildings in farming area). Dad moved into a log house, built a one-story, sold it to a neighbor who had it moved after we had built a two-story, all done without architects or building inspectors. Done by folks with a grade school education.

Tatarewicz  posted on  2015-10-27   0:30:46 ET  Reply   Trace   Private Reply  


#3. To: Horse (#0)

I visited my brother in CA two weeks ago.

I don't want to offend anyone, but California is brown and ugly and over priced.

I enjoyed my visit though. I'm glad to be back in Kentucky.

Fred Mertz  posted on  2015-10-27   0:38:30 ET  Reply   Trace   Private Reply  


#4. To: All (#0)

Fast forward to 5:37 to see shacks selling for 1.75 million dollars.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2015-10-27   1:10:47 ET  Reply   Trace   Private Reply  


#5. To: Fred Mertz (#3)

Tell us more about life in the Commonwealth please, Fred.

NeoconsNailed  posted on  2015-10-27   1:16:32 ET  Reply   Trace   Private Reply  


#6. To: NeoconsNailed (#5)

I got a tank of gas on Friday for $1.839 per gallon. I go to the local watering hole and buy a bucket of 6 beers for $8 - they give us wooden nickels.

Hunting is good and so is farming. What else would you like to know?

I like the simple life now.

Fred Mertz  posted on  2015-10-27   1:21:14 ET  Reply   Trace   Private Reply  


#7. To: Tatarewicz (#2)

Regulations hurt. But doubling the population through immigration forces you to bid homes away from millions of illegal and legal aliens.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2015-10-27   1:31:18 ET  Reply   Trace   Private Reply  


#8. To: Fred Mertz (#6)

Great. I tanked up for less than 1.80/gal yesterday in downtown Greenville SC (brag brag). How are the people there? A friend in Richmond KY area says they're refreshingly white but living in a dream world -- utterly impervious to the idea anybody wants to kill them for being goyish or Christian.

He says they don't even recognize a black (much less Jue) threat -- they hate fags, that's as far as their right-wingery goes. Because the population doesn't respond to gliberal attitude adjustment, he fears the plant he works in is going to moved to somewhere people do. The large corporation that owns it only wants to write paychecks to the New Soviet Man and Woman, it seems.

NeoconsNailed  posted on  2015-10-27   1:40:02 ET  Reply   Trace   Private Reply  


#9. To: NeoconsNailed (#8)

Amazon is big here.

People work for $11 an hour and think they're in tall cotton.

Louisville has a centralized hub here - airline wise.

Fred Mertz  posted on  2015-10-27   1:44:48 ET  Reply   Trace   Private Reply  


#10. To: Horse (#0)

I lived in So. Cal. for ten years.

I wouldn't go back if they paid me a million$.

U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY

HAPPY2BME-4UM  posted on  2015-10-27   1:54:17 ET  Reply   Trace   Private Reply  


#11. To: Fred Mertz (#3)

I have a relative that lives in Santa Rosa, north of San Francisco.

His hot water heater went out.

He had to apply for a PERMIT just to have a new hot water heater put in. The permit cost him $250!

U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY

HAPPY2BME-4UM  posted on  2015-10-27   2:13:17 ET  Reply   Trace   Private Reply  


#12. To: HAPPY2BME-4UM (#11)

My brother lives in Sonoma valley.

He was paranoid about an inspector coming out last week. He told me things went okay.

It's a long story, but all is okay.

Fred Mertz  posted on  2015-10-27   2:19:47 ET  Reply   Trace   Private Reply  


#13. To: HAPPY2BME-4UM (#11)

The cities in California are all bankrupt. They pay hundreds of thousands a year for firemen with rank. $300,000 for one nurse in the SF county jail. They have to charge as much as they can in fines and fees. Forget about the pensions. Their pensions are greater than the salaries of working cops and teachers elsewhere.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2015-10-27   2:27:04 ET  Reply   Trace   Private Reply  


#14. To: Horse, Fred Mertz (#13)

IS CALIFORNIA POORER THAN MISSISSIPPI?

20 most economically stressed counties - 19 in California

VIDEO: White People are Leaving California

The average criminal alien in California arrested 7 times

Why California is BROKE - Bell, CA admin $787,637 salary!

U.S. Constitution - Article IV, Section 4: NO BORDERS + NO LAWS = NO COUNTRY

HAPPY2BME-4UM  posted on  2015-10-27   2:33:52 ET  Reply   Trace   Private Reply  


#15. To: Fred Mertz (#6)

You left out the part about the moonshine flowing like water down there, Fred.

Obnoxicated  posted on  2015-10-27   11:59:29 ET  Reply   Trace   Private Reply  


#16. To: Obnoxicated (#15)

My neighbor has a normal supply of it from somewhere in Eastern Kentucky. He's a consumer, not a producer.

Fred Mertz  posted on  2015-10-27   12:03:55 ET  Reply   Trace   Private Reply  


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