Last October, I mentioned that I had finally hit a net worth of zero, celebrating the occasion of being officially worthless. At that point I mentioned that my next step was to buy a house. I can now say that I finally did get down and buy a house, closing a few months ago on June […]
Have you been paying attention to the mortgage market lately? That’s one of the reasons why we’re around… to keep track of these things! We’ve been watching the recent mortgage rate spike with a bit of curiosity (and our fingers crossed) as we’re planning on taking advantage of a refinance on our primary home. Looking […]
We have dealt a lot recently with historically low interest rates and their implications on not only the cost of housing and mortgages, but also implications for consumer credit and inflation. Although we have explained home price affordability in the San Francisco Bay Area before, we haven’t discussed the large variance in regional real estate prices.
No, you haven’t found Atlantis (or even a good joke…), I’m talking about houses in which mortgage holders owe more money on the home than the debt they are paying in their mortgage(s). Enter this post from the Federal Reserve Bank of San Francisco. John Krainer and Stephen LeRoy have calculated the number of mortgages underwater in Q4 2000 and Q4 2009 and conveniently mapped it so you can visually assess the damage.