Comments by "worn down" (@worndown8280) on "Home Flippers are DESTROYING the US Housing Market (STOP THEM!)" video.

Wow this sounds exactly like what China was going through up until November. I wonder.... if it will resolve the same way.
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@senoreng2014 Until the Democrats, who hold a super majority, overturn it. Then what? Dont think they will? People forget that they already got rid of the inheritance protection part tht is associated with prop 13. None of the family farms in California will survive the tax burden when their current owners die. As calpers strains against diminishing returns and as the number of retiring civil service employees increases, they will have no choice but to squeeze. People forget that the civil service numbers in california prior to the late 70s was very small. That explosion of employees that Gov Brown hired in the 70s and which never slowed down since then are entering retirement age. Thats not even counting the massively over leveraged local and county governments.
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@andreatrulock5245 maybe google it. Look what is happening to their real estate market. They have massively overbuilt for people who arent even there and who will never exist. In the US we have one domicile for every 1.8 Americans. This is by real estate tax records. And while there may be a housing shortage in certain areas. There are many places where houses lay vacant and off market. Why? Heck the property behind me has two houses that have been vacant for two years and I live outside the greater Knoxville area. I dont think the banks ever fully deleveraged their assets during 2008. But thats just my thought. When banks sell a real asset, for less than it is on the books, it has to show the actual loss. I dont think they want to show those losses. This same thing happened in Japan in the very late 80s and early 90s. The banks became known as Zombie banks.
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@lilshaz8378 I'm not talking about them. I talking about actual current farmers.
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