September 22, 2010

Where’s the negative equity share at in the Top 10 Metros?

http://www.creativeclass.com/creative_class/_wordpress/wp-content/uploads/2010/08/negative_equity.jpg

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Thanks to the anonymous Burbed reader who sent this in.

Uh… so… yeah it turns out that there may be some negative equity here in the Bay Area after all. But this is just a snap shot in time. And it’s probably skewed by places like Gilroy. Come winter bounce, this will all be gone! You just wait.

In fact, they’ll need to come up with a new chart to show how awesome house prices are in the Bay Area!

Comments (9) -- Posted by: burbed @ 5:04 am

9 Responses to “Where’s the negative equity share at in the Top 10 Metros?”

  1. anon Says:

    Boy… would you look at all those underwater morons.

    And, to think, every one of them just knew it was special here..

  2. DreamT Says:

    anon – Absolutely. And I quote: “Right now, the Bay Area is leading California’s recovery, because the area has fewer subprime loans and … is truly unique, with unique properties”
    I already feel more unique myself. Don’t you?

  3. anon Says:

    Well with the ‘fewer’ sub prime loans it’s a wonder anyone is underwater!

  4. madhaus Says:

    Doesn’t a “sub” prime loan, by definition, imply the need to navigate underwater?

  5. DreamT Says:

    Isn’t a sub prime a high-quality sandwich? Let’s ask Alex…

  6. SEA Says:

    I’m having a difficult time seeing the pristine waters of the RBA on a small map that covers such a large area.

  7. Real Creator Of Craiglist Says:

    Doesn’t a “sub” prime loan, by definition, imply the need to navigate underwater?
    —–

    Yes, just like Uncle Estater’s submarine teams.

  8. TheGilroyAlex Says:

    I’m sure it’s about us, sorry about that. Abandoned McMansions (that’d make a great song title) galore. Half-finished stuff. People leaving their 1.5 million monstrosities out here in droves, because (drumroll please) they can no longer afford them.

    What’s the big word? Upkeep. If you’re walking away from your place or being foreclosed out, you’re some blue-collar schlub who had no business buying a 1.5 mil place, you can brush it off and heads will nod, if you just use the word “upkeep”. You couldn’t afford the upkeep. Makes it sound like the butler’s life is ruined, not yours. It’s so hard to get good staff these days. When actually, I believe paying the mortgage is the most fundamental form of upkeep.

  9. Johnny Says:

    Hi All,

    Does anyone know of people who still participate in Equity Share?
    I did one a few years ago and would like to occupy a property somewhere near Concord Ca, Would also consider Sacramento or Santa Cruz. I have apx 5K down, poor credit and medium income, spilt 50 50 after 5 years? let me know if you hear of something.
    Thanks!
    Johnny


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