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?
Related posts:
[...] This post was mentioned on Twitter by Sarah Nicely. Sarah Nicely said: California Real Estate Crash Crisis Meltdown – Abandoned … http://bit.ly/bK0PB6 [...]