15.2% That's the number of mortgages that are in default in California
12% The unemployment rate in California
THIS JUST IN: The numbers for the IE just came out. Riverside county is now at 14.7%
and the IE is at 14.3%. Holy Smokes Batman.....
26% The number of underwater mortgages in the US (estimated to hit nearly 50% by late 2010)
42% The number of underwater mortgages in California. And yes, it's higher here in the IE!
And the list goes on and on.....
5 comments:
But... But...
Recovery... Green Shoots...
Dow Bull Run...
What?!? People cant afford the payment with their income? Houses bought as investment properties are sitting empty with no renters? Banks holding shadow inventory?
Shit meets fan in 2010 you say?
Hmmmm maybe the cnbc crowd is getting it wrong again...
But... Uncle Ben said...
JACKSON, Wyo. (AP) -- Federal Reserve Chairman Ben Bernanke declared Friday that the U.S. economy is on the verge of a long-awaited recovery after enduring a brutal recession and the worst financial crisis since the Great Depression.
The unemployment numbers for the IE just came out today. Riverside is now at 14.7%! Damn, no wonder my morning commute is better.....
I think the nation's housing market is facing new downward pressure as holders of subprime-mortgage bonds inundate the market with foreclosed homes at prices that are much lower than where many banks are willing to sell.
"Experts say this is a bad omen for residential real-estate prices and homeowners trying to sell or refinance, because the fire sales, many to cover soured subprime loans, put downward pressure on the value of nearby homes. All of this undermines federal efforts to stabilize the housing market and revive the broader economy."
Read More www.housingnewslive.com
Commutes = not so bad from Corona, yep. Furniture sales for our new home = run amuck. IRS = thanks for the $8k in the mail today.
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