Where’s the negative equity share at in the Top 10 Metros?
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!
September 22nd, 2010 at 11:06 am
Boy… would you look at all those underwater morons.
And, to think, every one of them just knew it was special here..
September 22nd, 2010 at 11:35 am
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?
September 22nd, 2010 at 11:42 am
Well with the ‘fewer’ sub prime loans it’s a wonder anyone is underwater!
September 22nd, 2010 at 11:47 am
Doesn’t a “sub” prime loan, by definition, imply the need to navigate underwater?
September 22nd, 2010 at 11:59 am
Isn’t a sub prime a high-quality sandwich? Let’s ask Alex…
September 22nd, 2010 at 12:03 pm
I’m having a difficult time seeing the pristine waters of the RBA on a small map that covers such a large area.
September 22nd, 2010 at 1:02 pm
Doesn’t a “sub” prime loan, by definition, imply the need to navigate underwater?
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Yes, just like Uncle Estater’s submarine teams.
September 22nd, 2010 at 4:40 pm
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.
October 21st, 2010 at 11:08 am
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