United States of America - USA

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

California-Drought-Housing-TrafficThe 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. Read Article