The Watchers — Watching the world evolve and transform - California property values collapse as water shut-offs begin... wealthy community to go dry in days... real estate implosion now inevitable
link to thewatchers.adorraeli.com
Water shut-offs have now begun in California, where government-ordered restrictions are starting to leave large communities high and dry. As CBS News is now reporting, the Mountain House community of 15,000 residents will run out of water in just a matter of days.
"The community's sole source of water, the Byron-Bethany Irrigation District, was one of 114 senior water rights holders cut off by a curtailment notice from the state on Friday," reports CBS.
And just like that, the property values of millions of dollars worth of homes belonging to 15,000 residents nosedives toward zero.
After all, what's the value of a home that has no running water? California isn't Africa... yet... so the idea of carrying your own buckets of water for bathing isn't widely accepted.
Get ready for a real estate collapse in Collapsifornia
As Natural News readers know, I saw all this coming. In a May 7th article entitled Why the California water crisis will lead to a housing collapse, municipal bankruptcies and a mass exodus of climate refugees, I wrote:
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.
In that same article, I also foretold what's going to happen next: plunging property tax revenues, municipal bankruptcies, a wave of climate refugees fleeing California and the collapse of the California economy. Unless rain starts falling out of the sky, all this is going to start unraveling like clockwork. (Count on it.)
Oh no. We are way too busy worrying about the Ukraine. And of course, Putin.