State officials say abandoned homes aren't the only outcome of the housing bubble burst…so are abandoned boats.

"The problem in my opinion - it's epic. We have got a number of boat owners that can no longer afford their boats so there's been a dramatic spike in the number of boats that have been abandoned."

Todd Thalhamer is with CalRecycle. The state agency is teaming up with the Sacramento County Sheriff's Department to locate and pull out deserted boats. Thalhamer says the vessels pose environmental hazards.

"We see contaminants from oils for fuels in the tanks that they leave, we found some PCBs in the paint; we find asbestos. It's just a matter of time before these things release into the environment."  

CalRecycle is paying for the $700,000 project.

Once the boats are dry-docked they'll be recycled for metals. Thalmer says the goal is to remove 18 boats by Thanksgiving.