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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: 284
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.

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Begin Trace Mode for Comment # 3.

#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   Untrace   Trace   Private Reply  


Replies to Comment # 3.

#5. To: Fred Mertz (#3)

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

NeoconsNailed  posted on  2015-10-27 01:16:32 ET  Reply   Untrace   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!

HAPPY2BME-4UM  posted on  2015-10-27 02:13:17 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 3.

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