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Meet The "Million Dollar Shack": Documentary Lays Bare California's Housing Bubble
“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...
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Tin Roof Rusted?
Will be living in a Plymouth Satellite.
MOVE you dumb bastards!
The one million dollars on a piece of paper is way more important. That is the belief....and that belief system has fueled the Premium Ca. Real Estate for 30 years. To these "investors" it doesn't matter what you pay, because they believe teh price will always go up.
Wow, between the dumbass soccer mom and the realtors shtick I couldnt make it past 45 seconds.
Ten years from now those rich buyers of today will be sleeping in their Teslas at the WalMart parking lot.
did i see tulips growing in that video?
Be warned. S.F. SUCKS BIG TIME.
Only good thing, benign climate.
Does that mean so much to you?
It's just a shift, the wealthy are moving in.
Labor problem is already here, they have no place to live in the bay area.
Biotech, Tech, Finance are the root cause of the bubble, they make very good money
and they are here.
I wonder why nobody sees the real culprit here. It's the easy money provided by the central banks. Even if you are a hard working tech at one of the big corps, you can't afford housing, maybe a Sr director making 200% above average can afford a below average home, but that's it. The tech industry does not support the housing prices at all, it's the money from investors, which can borrow at very low rates. People should protest in front of 101 Market St and not in front of the town hall.
^^THIS^^
Winner winner, chicken dinner!
I work at Google MTV and many employees are living in vans and trucks on the campus. Just today when I cycled into the parking lot I saw a guy sleeping in his car and when I went out for a stroll I saw multiple vans & RVs parked near Stevens Creek. Same situation on the Google long term parking lot. I was chatting with someone from security last Sunday and she said it is actually fairly common.
So yeah. Us 'evil' techies are just money conduits. Our salary goes directly from our pocket into the landlords pocket. My landlord has never ever done any work on the shack I inhabit (a wooden box from the late 60's) and yet increases the rent by 10% every year. Imagine you have a crappy secondhand car that appreciates by 10% every year. (Btw, 10% is modest, so I'm one of the lucky ones)
I have recently subscribed to r/vandwellers and might make the move myself if push comes to shove.
http://www.businessinsider.com/google-employee-lives-in-truck-in-parking...
http://www.sfgate.com/realestate/article/Software-engineer-lives-in-van-...
I used to work with some of the guys who started TellMe Networks. My secretary went there to run the office and be den mother, so to speak. The guys rented a warehouse with a shower in the bathroom and went to Home Depot for wood to build their own desks. They built bunk beds right on top of the desks. Everyone thought they were nuts, but not so much when they were acquired by Microsoft.
It's the stock options and social media IPOs.
Before that there were dot.com IPOs, and Internet IPOS and PC IPOs and so on. I know that you all would like to believe that this is the big one and, when it goes bust, California will fall in the ocean, houses will be worth pennies on the dollar, Sand Hill Road will evaporate, and technology will evacuate California never to return again. That is pretty much what we heard each time in the past. And each time the guys who pull the strings created another bubble and housing prices were even higher than before, usually well within a decade.
After the dot.com bust, every building on my employer's street was vacant except for 2, and my 15 mile commute went from 1+hour to 15-20 minutes. It looked pretty grim around Silicon Valley and those that did not become loan brokers and real estate agents thanks to the new bankster scam and Greenspan juicing the housing market, left California. Many of those who stayed started playing the hot-potato housing flipping game as houses more than 50 miles outside the Valley started springing up in the cow patties and prices quickly jumped in price to a half million or more, bought up by the large number of agriculture workers who clearly could not qualify for a loan in a sane world and house flippers looking for a quick killing, hoping to get out before the world woke up.
So, unless you think the game will change and banksters will not engineer another bubble, the people will elect honest and ethical representatives to government, and Sand Hill Road won't fund another new-new thing, then I don't think this part of California will fall in the ocean and housing prices are likely to remain higher than just about anywhere else in the Country.
In the mean time, I will hang onto the house and will probably experience another couple of crazy cycles before I am ready to retire and leave the state. With a fixed rate of 3.125%, the mortgage is less than the rent of a one bedroom apartment in this area.
The high stock valuations are a result of easy money too. Those workers who got rich on stock options are lucky, but I guess that is a minority of residents in the silicon valley.
I doubt that there will be more crazy cycles. All, bonds, stocks and real estate is at insane valuations at the same time. That's the ultimate bubble and when it pops the Federal reserve has no powder left. Their last option will be Zimabwe. Then house prices go up like crazy but they will crash in real prices. The same will be true for bonds and stocks and consequently your retirement.
Hmmm? Let's see. Is there a possible parallel belief system in the U.S. fiat currency? The stock market? The good ole 'merican way of life?
No, don't move you dumb bastards, stay there! When the SHTF, you won't have any money left! Let the liberals bask in the glory of the wealth inequality that they created.
Tin Cup. cheaper to live in a Van down by the river. literally
The Insanity Of London’s Housing MarketVan Down by the river = reduced economic output = lack of suport for the immoral system.
Of course, we may have passed the event horizon of Going Galt.
Ah, Post Of The Day, for a perfect B-52s reference.
Soon everyone will be priced out and there will only be sellers
No one should listen to this Realtor, I have lived this life and I will tell you, I was lucky to get out at the top. This market is built on air and it’s going down and never coming back. The minute the Chinese enter the market it is going down. Mark my words.
Actually, this market did go down. And then it came back and made new highs.
Thus proving the unpredictable nature of bubbles.
Before you can really take a bath, you need bubbles.
LTER - you owe me a new keyboard.....just spit scotch all over this one.
When the Chinese enter the market, it skyrockets. Look at Vancouver. HUGE influx of Chinese money and prices are insane.
This realtor is either a troll or one of the biggest blow-hards i've ever seen.
All the "techies" aren't doing shit, they are making shitty apps and getting huge stock bonuses from VC funding and stock market IPOs due to ZIRP causing malinvestment. And then calling it "success".
if the chic was really that outraged and upset,she would have slapped the fuck outta that arrogent mother fucker when he said" just work harder..."
hows that mother fucker????
u think mom and pops that bought that shit didnt work hard for what they had to pay for that currently inflated shit...
if ur reading this mother fucker - that rolls better have turips and grenade launchers....cause "The Road" approaches...
asshole.
Yep, he's a piece of work.
You have got to keep in mind however, he uses that tongue of his to clean any asshole presented to him, for his commission.
He loves the taste of shit, bull or otherwise.
And, the prices will increase forever - he's counting on it.
What a waste...
judging by me getting the "down low" treatment on my comment id say he heard u...
Let me tell you...I bust balls working in San Mateo. It's a joke. This year, I'll make 230k and I feel poor...I'm not kidding. Nothing left over at end of month..and I don't even have kids or a wife!! Home values and greed have hit full retard. Hoping the Chinese get burned nicely on the next fallout. Maybe then we will see what a home is really worth in SV!!
If you would do what this Google employee does, you could walk away from the madness in just a few years or less.
Luckily, you have no wife or children so you can make your choices without compromise. I would suggest you stay that way.
There is always a way out.
http://www.businessinsider.com/google-employee-lives-in-truck-in-parking...
I make around $70k/year here in northern Arkansas and live like a king. 25 acres of woods, 2300 sqft cedar cabin, lots of deer, large garden in the summer. And the State doesn't care how many guns I have either.
I have new neighbors diagonally across the street. They are from California. The 3,750sf brick house in good condition on a one-acre lot in a nice neighborhood cost them $200k-$250k. They probably are feeling pretty good right now.
I was lucky to get out of Silicon Valley just a few days before the first housing bubble burst. Just checked the price on Zillow and it is still less than what I sold it for, but not by much.
If you haven't sold and gotten the hell out of California, my only question is why the fuck not?
Because my house is worth 160% what it was at the height of the last bubble in 2006. I can think of nowhere in Silicon Valley proper where a house today is worth less than it was in 2006 so I am curious where you lived.
Yeah, probably he lived on the outskirts and commuted in. I'm here for another 5 years (until my kids are out of high school). My house is up over 100% since I bought it. It steadily rises ~10% annually, and that is not including the leveraging. Even when a crash comes, most long-term owners will still be sitting pretty.
Yeah, probably he lived on the outskirts and commuted in. I'm here for another 5 years (until my kids are out of high school). My house is up over 100% since I bought it. It steadily rises ~10% annually, and that is not including the leveraging. Even when a crash comes, most long-term owners will still be sitting pretty.
My brother has had asian girlfriends over the last decade or so. He tells me that there is quite a scam perpetrated in particular by Chinese. The buyer qualifies for a loan on a house and makes the purchase but then does not make the mortgage payments. House is forclosed on and relatives and friends buy it at greatly reduced price. Rinse, repeat.
Sounds like a good plan to me, and payback to the banks for starting this mess.
There's going to be a lot of 'jingle mail' arriving at lenders and banks after this bubble bursts.
And they're going to want the taxpayers to bail them out.
Dear China, when you launch the first missile please aim directly to all of these fuckwad citys.
Start with Washington !!!!!
The house flipping shows are back on HGTV. Saw a two bed, one bath dump go for $300k in a short sale. Insane. Same as 2007/2008.
Those chumps are Canadians.
Im out here in the east bay...even in oakland the shit is completely out of fucking control...
paying top dollar for homes in the hood...
then they cry about how the police will only show up for a extreme violent crime...
suckers.........the bust is goin' to be EPIC!
ps: gentrification a warp speed to boot....shit is fucked up....
Lebensraum for the yuppies.
The gang bangers will have to move on. Gentrification in the BA is ruthless. In a few years those places "in da hood" will be worth millions, will be walled in, and the police will come jack-flash.
Everyone in Oakland will have moved to Tracy. Or Fresno.
How about Hemet or Brawley or Barstow?
Desert towns all...only the fucking insane live in the desert.
I'd live in the dessert before SanfranShitco
I'd live in the dessert before SanfranShitco
yeah...keep dreaming...
the hood aint goin nowhere...and even if some do theyll be back to rob mother fuckers who dont understand the blowback driven tby the fucking Fed...
choose ur team wisely homes....
Stockton brotha ....Stockton
@Kaiser
"East Bay Nights" Rancid 2009
Your correct, the next bust will be quite the show
1 of the band members lives across the street from my cuz' in the Berkleey Hills right next to Kensington...
aint nothing under 2 million and thats the basement...
my uncle bought the house for 27 g's back in the late 60's...
shit is fucking fucked up man........
I'm in the Sacramento area, I think the tech bubble has already created a ton of froth in this area. I bought 2 years ago because I could afford something much nicer than my rental, and I was tired of my rents going up then. My house is up 33% in 2 years and i'm looking to bail soon while I still have fake equity in it. All this is overflow from SF Bay Area, and I think we are seeing an influx of Chinese buyers here as well.
Then i'll either rent something cheaper/smaller or move in with friends/family sitting on cash. I originally wanted to buy and keep my house to actually live in, instead of trating it as a piggy bank. But with the bubble topping out and all the taxes, etc. I have decided it isn't worth it to miss out on the fake equity in my house... time to cash out. This bubble accelerated faster and harder than even I could have imagined.
If the market was actually STABLE (read: not going sharply up or down either way) I would be a lot more inclined to want to keep it. I'm 30, single, and gave up hope of the "American Dream" with house + family... It just isn't worth it anymore.
So all the niggers got turfed out to Stockton?
House buyers are obviously getting smarter...
That video is crazy. Insanity squared.
This next housing crash will take millions of Americans down the drain.
The Chinese will continue their "great exit of China" for the foreseeable future - even with capital controls excercised. We can expect the bubbles to continue for sometime. I'm watching the one in Auckland New Zealand which boggles the flippin mind...it's amazing how a mere 10 million Chinese can through capital cause such strife in property bubbles. No Chinese coming to charleston WV. I live in a palace compared to what those earning 8 times my annual income is - and this isn't hillbilly country either.
I laugh at the fools. My porch is larger than 50% of most homes. Lol.
Charleston WV never booms, but it never busts.
Do you have some decent golf down there?
No.
Ah well there is the greenbrier a wee bit down the road.
No zoo either - unless you count the druggies on the West end trying to score on a Friday nigt - bit how is that different to any other West End I have yet to see.
I played a nice Robert Trent Jones, Jr course in the Bridgeport/Clarksburg area over the summer, Bel Meadow. nice design and a nice restaurant there. a little run down, but nice. Looking for a place to retire, out of the way of the worst parts of civilization. I am from Ohio
How could you leave out Shawnee Golf Course? Kanawha County's finest!
A few times a year I used to drive across half the US and I always spent the first night in Charleston. Beautiful countryside and although quite a few of the locals looked like they imported their teeth from Keith Richards it's a nice looking city.
+100 Excellent question.
I believe they have some decent skiing in WV.
Ah Auckland, where it is still possible for a family to live an American Grafitti 1962 middle class lifestyle on one income - as long as that one income is over $200,000. Yet a third of the national population are trapped in that situation. Then there are the rural areas, unless you inherited a multimillion dollar farm, welcome to minumum wage or a benefit.
The picture that you paint is clearly your reality.
Mine is quite different, but I have not worked for anyone but myself for the last forty years.
Sure , I am still working the 80 hours a week that I have done for all of those decades, but the point is that you can live in the rural areas, be self-employed, and have a very successful business growing food.
There is abundant opportunity if you have the drive.
You can keep your city living.
I built a tree house for my 15 yo son. I'm pretty sure I could rent it for $500/mo here. That said it really is a very fine "house" in an actual "tree". Electricity, insulation, WiFi, great view, easy access stairs. He loves it.
Careful. $500 says you put that in craigslist you'll have a dozen enquiries by morning
Including city officials telling you all the codes it violates and you better tear it down or be fined $10,000 a day.
That's part of the game. They won't allow new construction and strict on zoning and shit
Because they all wanna get rich too with their own shacks.
Yeah we know how that works :)
However our "home" on the same lot used to be a bar, and then it fell into disrepair and became a drug den. We bought it as a fixer-upper and had to dig the place out of shit ... meaning actual excrement. City were rather happy we came along at the time. Now get this, for about half a year after we moved in random people would once in a while walk in through the front door at dinner time -- thinking it was still a bar, you just walk in right? -- take one look around and us looking up and smiling, and turn right around and walk out. Funniest damn thing you ever saw.
Of course the place is probably worth $800K today just for the lot, were I to dare sell it. Can't because I would have to move away just to not become a renter; after I pay off my outstanding mortgage I can't afford anything around here with what I have left that isn't a falling down mess and I'm back replacing roof and foundation and electrical, all that. I looked, I know. Not worth it. So here we sit.
I had a short-term rental this summer in SF. Nice Victorian but the area, while central, was pretty beat. There was a literall a different drug addict on my sidewalk every day. It's like they had some kind of rotation.
2BRs @ $4700/mo. This is in a state with a 13% tax rate. After three months, I left, telling the landlords it was just too pricey. They understood and said they were sorry to see me go. They relisted the next day for $5500/mo.
The remarkable irony of this whole thing is that we exchanged our dollars to the Chinese for goods and then when they come to spend those dollars, we offer them paper @ 2% or overpriced real estate. Every time some Chinese clown pays $1.8MM for a tear down, he is effectively refunding the U.S. a portion of the money we have given to China over the last two decades. We have exchanged our paper for goods and labor, and when they come back with paper, we give them a $1MM shitbox. It's an amazing scam.
wait until we want our real estate back
The U.S. did nearly the same thing to the Japanese in the 80's. History certainly does rhyme...
What happened to Japanese investors was not pretty.
Rinse, wash, repeat, one night only "The Mikado".
Bingo... Schiff had an article on this exact dynamic... in 2008.
http://www.europac.com/commentaries/inflation_americas_greatest_export
More relevant today than ever. It was just a matter of how exactly the inflation was going to come back... I think we got our answer.
http://www.realtor.com/realestateandhomes-search/San-Jose_CA
http://www.realtor.com/realestateandhomes-search/San-Francisco_CA
Didn't look on realtor.com I guess. There's also only 10 homes in San Francisco over $10,000,000 on the market.
I looked at a few pages of that and anything under $1M looked like crack shack in a really shitty part of town.
So what's your point?
That the statement was filled with hyperbole. There are a lot of properties under $1 mil. If you want to live there you get what you pay for.
Sorry, I missed that.
The coming housing bust in CA is certainly going to be epic. Far worst than in 2006-2009.
My parents bought a cracker box 3/1 less than 1100 sf in SSF, blue collar town in 1963 for 26K. Today they tell me 880K is the going rate. What a joke, but the Bay Area and SF/Peninsula in particular is considered "world class" real estate. Sure the SSF properties are going to crash, the high end will too, but it won't be as bad. After adding in the amount for Jerry's kids it's not going to be what we would consider affordable. I tried to tell my folks back then...Burlingame, Woodside, Atherton, but did they listen to a 6yo? Noooo.
I was going to sell my place (in a nice part of San Jose) to move up a little but before I did I went house hunting. Anything I could afford ($700K) would have been a fixer-upper big time, in a neighborhood overrun with loose pitbulls and renters parking their Escalades on the lawn. There were areas with "quaint family homes" that my wife wouldn't even get out of the car to look at, she was so afraid of the barking dog next door lunging at the fence.
Realtors are lying fucks, listings don't mean shit around here. If you want to live in a safe part of any city in the Bay Area, and walking distance from minimal shopping, it's $1M to start (and you better have cash) or GTFO.
Buy a shipping container, turn it into a self-contained living space, bury it and not pay any property taxes 'cuz you're living out of sight.....
There is an activist housing collective in Oakland or Bezerkley -- can't remember which -- doing exactly that on the Q-T. Nobody knows where they are exactly, and there are containers piled up all over the East Bay so they have great camouflage, and they got wrote up in the local paper as an example of doing something creative. There is also a whole organized "tiny house" movement here, people living in 100-200 sq feet and being really creative. I built my son a 100 sq foot tree house along those lines, it's a perfect home (if you overlook that there is a tree smack in the center.)
People are gonna get real creative. They will not give two shits what the authorities think. If the 1%-ers can get away with their shit, then the rest of us are going to do whatever the hell pleases us in terms of living spaces. Housing is a natural right, jack people around all you like they'll just route around you like you were a pothole.
San Fransicko, Commifornia.
This will end well.
Median household incomes
Santa Clara County $89,000
San Francisco County $73,000
Alameda County $71,000
https://en.wikipedia.org/wiki/List_of_California_locations_by_income
So what? They have just to work harder.
Just work harder. There's those 3 words again. Fuck You DeLeon, you POS Real Estate Agent.
and total douchebag
https://www.youtube.com/watch?v=jHt85yigO8g
Reminds me of a guy I once worked for. He couldn't do any wrong and had the next best thing since MS Windows. Oh how we can screw up our lives!
I'm a peaceful guy.
I've never experienced the feeling of wanting to smack a man in the mouth quite so much as during this DeLeon motherfucker's holier than thou Gordon Gecko blind senseless self-serving avaricious speech at the end.
Well done, filmmaker.
and just think; this fuck-stick gets 3% or so to merely walk buyers into a house. It blows my mind.
One can empathize . . . but the narrator needs to move to someplace like Missouri or western Kentucky - meet some real folks and get a frickin life. She may even get lucky and lose the Kalifornia-centric world view (the one unique trait typical of long-timers of the Bear Flag state).
California? Try Massachusetts! It's even worst there. In fact good ole MA is an independent nation but stays in the U.S. so they can collect a welfare check from the rest of us. I hope ISIS sets up their first McCaliphate there and eats all of the phucking Irishmen (and women) who voted for the Kennedys! (and all of the other folks as well.)
No more Kennedys,Bushes,Clintons and confused Mulattoes. I live in Massachusetts!
Uh, I own a house in San Jose. It lets me live in retirement in ... Florida. The comps are $750K. Must be in the ghetto. There is a golf course a block away.
Fuck, I'm not charging enough rent. Every time I raise the rent, the greedy bastards next to me, raise theirs more.
Move to Chicago (I hope no sarc is needed here).
The community our fine president once organized is selling lots for $1. Yep $1. There is one little problem. There have been over 2,500 people shot in your new neighborhood this year alone.
http://www.npr.org/2014/07/02/325803705/for-sale-vacant-lots-on-chicago-...
http://heyjackass.com/
There have been over 2,500 people shot in your new neighborhood this year alone
Sounds like a well run neighborhood beautification program to me, nothing to see here, move along...
Did anybody else notice the irony of the 'lower IQ sellers' selling house they paid a pittance for turning around and selling to these Einstein tech workers for millions? The realtor seems to belittle the sellers a bit, but they are the ones booking serious profits.
I find RE agents to be useless egotistical douches. This guy is like king of the douche bags.
caught that....I think the lower "IQ" types will have the last laugh.
Liberal puke bastion
I live in a very nice/new community in Arizona. We have houses over 2000sf with prices around $300,000.
Lots of people from California are moving here....I wonder why.............
Your parents lived in the neighborhood, so you feel that entitles you to live there as well? Wat?
Inverse San Franscisco Real Estate ETF anyone?
even in the midwest we are catching the bug
California loves inflation. "Yeah, look how rich we are... wha wait?"
snake faced real estate says he doens't think this will go on for ever. Good enough for me, i'm in!
The chinese buyers don't know that there is a cost of ownership: 1%-3% annual property tax, HOA, etc. They can't keep up with the cost, they will have to sell in a few years, when the next crisis will be horobly happen without warning. BTW, fuck you bernanke for creating yet another bubble. bust you mf.
The chinese buyers don't know that there is a cost of ownership: 1%-3% annual property tax, HOA, etc. They can't keep up with the cost, they will have to sell in a few years, when the next crisis will be horobly happen without warning. BTW, fuck you bernanke for creating yet another bubble. bust you mf.
Cure? If the CA drought would last another 3~5 years, that would solve this problem. But that won't happen. However, the economic collapse will, even sooner.
So what? The investors do not live there anyway. The renter will have pay the water bill or shit in dog poop bags.
What renters? Many will move away. Crash.
-----
The key point in the video was this. 1.6 billion people in China cannot own land... in China. Obviously a great many of them are stupid enough to imagine they can own land in the USSA. The next great scam will be to hang around the property tax office and claim properties owned by Chinese who "forgot" to pay property tax. Yikes... cheap homes in Silicon Valley!
This an thousands of other insanities all trace back to fiat, fake, fraud, fiction, fantasy, fractional-reserve debt-note-bits created out of thin nothing by the central bankster predators-that-be.
Who can pay the rent on all this?
Excellent documentary. I grew up there, when a 5 bedroom house in Cupertino sold for $40k. We've seen this before, however, both in housing and in other property. The way the cycle usually ends is that a whole bunch of foreign money comes in to buy at peak, then the prices crash, and locals buy it back for a dime on the dollar. Too bad a bunch of locals get screwed along the way.....
Fed's funny money coming back home...detorting the market further.
Meanwhile real money is on sale!
http://www.silverdoctors.com/stunning-silver-statistic-1-30/
Consider the irony as silver is sold near or below its all in cost of production while shacks go for millions.
The rare and consumed metal with a shrinking supply as base metal mining slows (where 70% of silver comes from) versus houses that are bought by foreign investors in a bubble.
I live near another bubble real estate market and weeds are growing in the driveways and houses sit empty or sparcely furnished. Many of the owners I have met almost all say the same thing - the taxes are killing me and I can't sell - even at almost half the price. They want the asian and russian buyers to come back so they can sell. Also ironic, many of the homes are owned by real estate agents who thought they were getting a bargain as the market slumped.
It is very errie to see. Market disortions fueled by funny money.
Selling the house and renting has been the wrong choice in most of Canada.
Im sure there is some cheap housing in the Mediterranean i.e. Syria
One period of above average rent always follows a period of below average rent. That's for sure.
why would anyone want to live there? i'm noticing a lot of CA plates here in FL.
Nephew just bought a San Jose shack, plunked down his $100k savings for a down payment on a 800k shack.
The collapse will come I don't hope, but it will anyway, he has no clue to his neighbors financial situation, he's like those dipshit Enron employees that thought it would never end.
Hong Kong listed Ping An is now offering zero deposit loans to Chinese buyers of Australian real estate: Chinese no-deposit home loans could fuel speculation in Australian real estate
Only in California...they are having a drought of Biblical proportions and they are worried about their shack prices... I hope none of them chokes on a tofu taco because there was no water to wash it down with < /strong>< /sarc>
While there are Chinese billionaires with stolen money to hide, there will be real estate bubbles in some parts of the US