Chunk/world loading problems: Infinite re-generating (corrupted?) chunks

I am having some very serious issues with chunks and world loading, to the point where 1.9 is literally unplayable. And when I say 'literally,' I am not exaggerating.

What I expected: Well as meager as it sounds, I simply expected the world to load.

What actually happened: It's hard to explain what exactly happens, so I have made an imgur album as well. http://imgur.com/a/K25rV

Basically, the world keeps regenerating the same chunks over and over. This makes the chunks look like they are flashing. Interestingly, it seems to be tiling the same chunk over and over again. Obviously I cannot place or stand on blocks, effectively making 1.9 completely unplayable.

Steps to re-produce:
1. Create or load world
2. Create or load different world
3. World should have 'flashing' chunks

That's all it took for me. Sometimes it takes 2 or 3 world changes, but I am not sure if this is occurring from play time or loading different worlds. Also, the flashes seem to be happening at a rate of once every tick. This is VERY fast and can't really be captured by the imgur album.

I also want to emphasis and re-iterate the fact that 1.9 IS LITERALLY UNPLAYABLE IF YOU HAVE THIS BUG!!