California’s Housing Bubble Is About To Get WORSE! – The FALL Of California

Josh Sigurdson talks with author and economic analyst John Sneisen about the latest news out of California as the housing bubble continues to weaken and yet still get propped up by government through Governor Gavin Newsom’s latest housing initiative.
UCLA adjunct professor Jerry Nickelsburg who is also the director of the Anderson School of Management’s forecast has predicted that as the housing markets continue to soften in California, it’s likely to cool further into 2020.
Well that’s one way to put it! People are fleeing California in large numbers for places like Nevada and Arizona all while we see similar things happen out of New York, New Jersey and into places like Florida. It’s not going to end well. We are seeing the return of all the things we saw in 2007. Collateralized Debt Obligations, mortgage backed securities, subprime lending, credit default swaps, etc.
So what’s being done about it?
Government is flooding the market with more employees attempting to mitigate risk by propping up the system, bringing in countless construction workers and then at the same time pledging to build 500,000 homes a year going into 2025. There were only 120,000 homes built in 2018. This sounds very much like the policy out of China to build and manipulate and grow without considering the vast consequences and how it will affect individuals. This according to Nickelsburg is a state-wide problem that goes further than just San Francisco, Los Angeles and San Diego.

The solutions come down to the individual more than anything. Individuals must be self sustainable, financially responsible and decentralize their lives without being dependent on a giant centralized entity.

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Video edited by Josh Sigurdson

Featuring:
Josh Sigurdson
John Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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2019

“Find the truth, be the change!”

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30 Comments

  • World Alternative Media
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  • JosephCecilHorne SmithJunior
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  • Lucifer Light
    Reply

    We voted for a sinking ship with Justin Treudeu. GDP is flat and the only money circulating is cheap money . If you have a mortgage , it’s like holding a huge weight and it’s going to fall fast and hard and we are walking to the edge of the cliff like sheep with the burden of the mortgage in our hands .

  • ToIsleOfView
    Reply

    The history of the American Continental is not being discussed as it should. I am no authority but from what I read, the Rothchild Banksters were pushing the borrowing of money to fund America’s revolutionary war with GB. GB was also going into debt to the Rothschilds. After the war, the banksters demanded payment in gold. The veterans were paid in continentals & received land deeds. There was no gold to pay back the war loans so the banksters started crashing the value of all the paper currency. The banksters used this trick so the nations and the veterans would sell their land to pay their debts. Paper currency gradually became near worthless. Now the banksters started buying worthless Continentals for pennies on the dollar. These were promissory notes and as soon as the Federal government got on its feet with taxes & import duties the value of the Continentals rose again. The bankster profit from loaning money to both sides of a war and then forcing the private takeover of the sovereign banking systems is how the banksters have become so powerful. Every war since then is the exact same thing. The political class and the military class (I.E. Washington) are constantly bamboozled by the banksters. We blame borrowing as the culprit but the borrowing is manipulated by the banksters by crashing markets and secretly creating bank runs to force people to lose their head. We need to expose this game the banksters have learned to play and create a new system of credit and payment with no bankster manipulation. Bitcoin?

  • Craig Ginsberg
    Reply

    the hi tax big gov states under-perform the low tax small government states because big government crowds out room for home equity

  • Big Red
    Reply

    Newsom is doing what China is doing… build and they’ll come. Use building to raise California’s GDP. 🙂 Because all the companies are leaving due to high taxes, housing is California’s ticket to stay alive. 🙂

  • Lady pilliwick
    Reply

    Great. They want the state government to raise taxes so the state can build new houses…..
    Hard to belive these people are seriously that stupid

  • Sooper Fudge
    Reply

    And to top it off their new governor just enacted a moratorium on capital punishment lol I’m sure this’ll do wonders for their real estate values

  • Rol M
    Reply

    Same bullshit all the time, that is why is thy subscription is falling, , everyone can say crash is coming, and sure it comes in 10 or 15 years

  • wawaldi
    Reply

    You are listening too much of Peter Schiff..He is selling gold so he has to create armageddon scenario in order to run his business ..

  • Smufter16
    Reply

    High IQ workers fleeing CA while low IQ invaders flood in.
    How could this possibly erode CA’s bubblelicious RE prices?
    Only “conspiracy nut-jobs” believe CA RE prices will ever “cool”….

  • Gippy Basi
    Reply

    Many ppl we know bought a house.. we’ve been waiting 2 years for this to happen, now prices are ticking down a few thousand every month. Will own someone’s dream home soon 😀

  • Daniel OBrein
    Reply

    as long as the asian are buying their houses —they can leave—-when that dries up the money will be gone —out here in the boonies in northern calif —the highest sold house is 199 thousand

  • Daniel OBrein
    Reply

    Sacramento the cannary in the last collapse has dropped 22 and a half percent in sales—-I listened to a real estate program out of sacramento —average house no matter what is around 350 thousand —it seems to me the banks are holding them at this price—-to get the price they have to be pristine and modernized

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