Riverside and San Bernardino Housing: Two SoCal Counties with 4 Million People Experience 60 Percent in Housing Price Declines. And Prices are Still near the Bottom.
The Inland Empire of Southern California has been devastated with the current housing bubble bursting. A few other bloggers have covered this area in great detail but it is important to examine what is happening here. The Inland Empire is made up of two large counties, San Bernardino and Riverside. Before we look at details [...]
California Market Inventory: Is the Lower End Running out of Steam? 5 Key Factors Impacting California Inventory. Borrowers Don’t Have Bubble Purchasing Power.
How many homes are currently for sale in California? This rather simple question seems to be missed in many mainstream articles and is rather important to the question of the overall health of the California housing market. In many cases it is assumed that having less than six months of inventory reflects a healthy and [...]
Option ARM Silent Bomb: $189 Billion in Outstanding Option ARMs with $134 Billion Recasting in 2 Years. 94 Percent of Borrowers Made Minimum Payment.
There is devastating news out this week regarding option ARM loans. Option ARMs are a unique kind of mortgage since they offered borrowers a variety of methods to pay their monthly mortgage. The problem with the data coming out this week is that 94 percent of borrowers elected to go with the most financially destructive [...]