I saw this on “The Daily Show” and thought sometimes a picture is worth a thousand words. It’s Gerri Willis, CNN Personal Finance editor, talking about how the subprime meltdown/foreclosure fiasco led to the tragic economic downturn. She also uses the phrase “Holy Guacamole!”
Filed under: Foreclosure Fever, Mortgage Mania, The Market | 3 Comments »
Notices of Default Counties Q42006 Q42007 Change San Francisco 173 334 93.1% Alameda 1,173 2,573 119.4% Contra Costa 1,511 3,805 151.8% Santa Clara 874 2,162 147.4% San Mateo 339 625 84.4% Marin 101 224 121.8% Solano 781 1,793 129.6% Sonoma 323 968 199.7% Napa 87 220 152.9% [...]
Filed under: Foreclosure Fever, The Market | Leave a Comment »
I am not advocating suing anyone. It’s just the headline of this news article from the New York Times (registration may be required.) That makes this the first housing collapse in which large numbers of buyers had a real estate professional explicitly looking after their interests. The Ummel case poses the question: In a relationship [...]
Filed under: House Hunt, The Market | Leave a Comment »
In an effort to show I’m not a Snarky McSnark blogger who just complains about housing and has no substance, I’m writing about affordable housing. In many people’s views, affordable housing in the Bay Area has always been an oxymoron, right? Well, not true. Several organizations, including the San Francisco-based Bridge Housing, develop affordable homes [...]
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I think that’s what the title of this Los Angeles Times first-person article should be: Our friends said we were crazy. Relatives asked whether we were in financial trouble. But in April 2005, my wife and I bailed out of the American dream. We sold our two-bedroom Pasadena condominium and became renters again. . . [...]
Filed under: House Hunt, Mortgage Mania, The Market | 3 Comments »
We did have this story in today’s paper: Apartment dwellers in the Bay Area, Salt Lake City and Seattle were all particularly hard hit as their average rents rose 8.6 percent to 10.8 percent during 2007, RealFacts said. (Average rent/rise from last year) San Jose: $1,647, 10.8 percent San Francisco/Oakland: $1,577, 8.6 percent So rents [...]
Filed under: The Market | 1 Comment »
