By: Robbie Whelan

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This comes via the finance blog Calcutated Risk. A developer in Victorville, an eastern suburb of Los Angeles, has paid to demolish a bunch of model homes that were all built, or at least almost-built, but never occupied. The city of Victorville was fining the builder, apparently, for leaving the structures vacant.

The video is pretty shocking (although it would be nice if the cameraman wasn’t talking the whole time about how shocking it is) at face value, but most interesting, I think, as a physical representation of how little demand there is, at least in a place like suburban southern California, for new housing stock. It’s really gotten this bad.