Why the California water crisis will lead to a housing collapse, municipal bankruptcies and a mass exodus of climate refugees – NaturalNews.com

(NaturalNews) The only proof you need that many Californians are still living in a water fairy tale is the fact that California real estate prices haven’t yet collapsed. Even as the California Governor has declared a state of emergency — and emergency water rationing is under way — there are still people purchasing commercial and residential real estate in precisely the areas that will be hardest hit by that rationing.

What is the value of a home or business that has no functioning connection to a water system? Essentially ZERO.

How many California homes and businesses are headed for a zero-water future? Many millions.

How many Californians are aware of all this and already have their homes on the market so they can move somewhere else? A very small number… a tiny fraction of the total number of home and property owners invested there.

What these people are unfortunately not yet seeing is the catastrophic consequences of a continued drought and how it can utterly destroy the value of their property.

via Why the California water crisis will lead to a housing collapse, municipal bankruptcies and a mass exodus of climate refugees – NaturalNews.com.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: