Comments on: bay area too expensive http://www.burbed.com/2009/10/15/bay-area-too-expensive/ San Francisco Bay Area, Silicon Valley House Price and Mortgage Insanity Blog Wed, 08 Feb 2012 05:39:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: nomadic http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39029 nomadic Tue, 20 Oct 2009 00:41:24 +0000 http://www.burbed.com/?p=4218#comment-39029 oops - that should've been 80,000 above. but he says the total in the Bay Area (incl. SC County) is 90,000 so that's even better. oops – that should’ve been 80,000 above. but he says the total in the Bay Area (incl. SC County) is 90,000 so that’s even better.

]]> By: nomadic http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39028 nomadic Tue, 20 Oct 2009 00:38:02 +0000 http://www.burbed.com/?p=4218#comment-39028 One more thing from the site: of the Alt-A loans statewide, 82.7% are low or no doc, 11.3% are in foreclosure and only 4.7% reset in the next 12 months. In August, this doom & gloomer said that our area had 35,000 active Alt-A loans (versus 400,000 in SoCal). Plus another 180,000 or so in the SF MSA (9 counties). http://www.doctorhousingbubble.com/wp-content/uploads/2009/08/alt-a-loans-california.png (full article: http://www.doctorhousingbubble.com/alt-a-option-arm-and-subprime-loans-will-turn-california-into-a-zombie-mortgage-state-28-percent-of-alt-a-loans-in-california-60-days-late-alt-a-mortgages-by-california-region-11-million-alt/ ) One more thing from the site: of the Alt-A loans statewide, 82.7% are low or no doc, 11.3% are in foreclosure and only 4.7% reset in the next 12 months.

In August, this doom & gloomer said that our area had 35,000 active Alt-A loans (versus 400,000 in SoCal). Plus another 180,000 or so in the SF MSA (9 counties).

http://www.doctorhousingbubble.com/wp-content/uploads/2009/08/alt-a-loans-california.png
(full article:
http://www.doctorhousingbubble.com/alt-a-option-arm-and-subprime-loans-will-turn-california-into-a-zombie-mortgage-state-28-percent-of-alt-a-loans-in-california-60-days-late-alt-a-mortgages-by-california-region-11-million-alt/ )

]]> By: nomadic http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39027 nomadic Tue, 20 Oct 2009 00:30:53 +0000 http://www.burbed.com/?p=4218#comment-39027 Me either, but the maps here: http://www.newyorkfed.org/mortgagemaps/ indicate it isn't as rosy as you think. You'll have to click the "Alt-A" radio button to get a relative idea of the prevalence of those loans. Unfortunately the data is from May, so it's a bit stale. Me either, but the maps here:

http://www.newyorkfed.org/mortgagemaps/

indicate it isn’t as rosy as you think. You’ll have to click the “Alt-A” radio button to get a relative idea of the prevalence of those loans. Unfortunately the data is from May, so it’s a bit stale.

]]> By: SiO2 http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39026 SiO2 Mon, 19 Oct 2009 23:37:03 +0000 http://www.burbed.com/?p=4218#comment-39026 Nomadic wrote: "I wonder if there’s a way to determine how many of the Alt-A (or I/O) loans taken out during the peak years are STILL active? Seems anyone savvy enough to follow your scenario would have re-fi’d long ago to get rid of the higher interest rates." An excellent question, particularly since rates have declined since the boom. That would be great data indeed - what %age of active loans in RBA are currently Alt-A. Sadly I don't know how to find that data. Nomadic wrote:
“I wonder if there’s a way to determine how many of the Alt-A (or I/O) loans taken out during the peak years are STILL active? Seems anyone savvy enough to follow your scenario would have re-fi’d long ago to get rid of the higher interest rates.”

An excellent question, particularly since rates have declined since the boom. That would be great data indeed – what %age of active loans in RBA are currently Alt-A. Sadly I don’t know how to find that data.

]]> By: anon http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39025 anon Mon, 19 Oct 2009 18:40:26 +0000 http://www.burbed.com/?p=4218#comment-39025 "The older he gets, better more idiotic statement he makes." Better <b>is</b> more idiotic. I find his idiocy quite entertaining. “The older he gets, better more idiotic statement he makes.”

Better is more idiotic. I find his idiocy quite entertaining.

]]> By: nomadic http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39024 nomadic Mon, 19 Oct 2009 18:09:24 +0000 http://www.burbed.com/?p=4218#comment-39024 hey, I edited my remark so I don't call him an idiot. Just his statement. hey, I edited my remark so I don’t call him an idiot. Just his statement.

]]> By: Pralay http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39023 Pralay Mon, 19 Oct 2009 18:05:00 +0000 http://www.burbed.com/?p=4218#comment-39023 <i>How do you keep outdoing yourself with idiotic statements, RE?</i> ----- I would not make such a negative statement about him. RealEstater is like wine. The older he gets, <del>better</del> more idiotic statement he makes. How do you keep outdoing yourself with idiotic statements, RE?
—–

I would not make such a negative statement about him. RealEstater is like wine. The older he gets, better more idiotic statement he makes.

]]> By: nomadic http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39022 nomadic Mon, 19 Oct 2009 17:47:47 +0000 http://www.burbed.com/?p=4218#comment-39022 How do you keep outdoing yourself with idiotic statements, RE? Or is that just troll-bait? You can't really believe bob isn't having kids because they're too expensive, do you? How do you keep outdoing yourself with idiotic statements, RE? Or is that just troll-bait? You can’t really believe bob isn’t having kids because they’re too expensive, do you?

]]> By: Real Estater http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39021 Real Estater Mon, 19 Oct 2009 17:34:20 +0000 http://www.burbed.com/?p=4218#comment-39021 In Bob's case, family has already taken a backseat to saving money (no child is planned due to cost). In Bob’s case, family has already taken a backseat to saving money (no child is planned due to cost).

]]> By: DreamT http://www.burbed.com/2009/10/15/bay-area-too-expensive/#comment-39020 DreamT Mon, 19 Oct 2009 17:08:45 +0000 http://www.burbed.com/?p=4218#comment-39020 bob, I completely agree with you that if family takes a backseat, professional success might well be personal failure. But I disagree that you need to "move elsewhere" to reach this balance - very much so. I'd be happy to expand on this off-thread. bob, I completely agree with you that if family takes a backseat, professional success might well be personal failure. But I disagree that you need to “move elsewhere” to reach this balance – very much so. I’d be happy to expand on this off-thread.

]]>