California property values collapse as water shut-offs begin… wealthy community to go dry in days… real estate implosion now inevitable Wednesday, June 17, 2015

(NaturalNews) 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. Continue reading

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

(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. Continue reading