Median Price of a Home in California Increases 22 Percent in March (HO-LEE!)

PRNewswire ^ | 4/27/2004 | PRNewswire

[glorgau]

planning commissions allowed way too much developement that forced way too many people into a tight geographical area

These are called urban areas - density is how they differ from suburban areas

[Rutles4Ever]

Just wait until Fannie Mae and Freddie Mac implode.

"What, you expect us to make our balance sheet public?"

In fact, the administration is warning people that they are not backing Fannie Mae or Freddie Mac in a bailout scenario. One third of these two instutions' debt is held by Asian firms. Their securities are NOT backed by the full faith of the U.S. government.

I understand the laws of supply and demand, but people are STRETCHED. I bought a modest bungalow in the Chicago area for $259,000 with a 10% downpayment (admittedly, a historically low percentage, but in this day-and-age, a virtual fortune to down pay). I have a 6%, 30-year. If I or my wife were out of work for more than six months, we would have to sell. That's on a $259,000 house (okay, it's probably worth about 10% more now). What's going to happen with all those people jumping in with 105% loans and living their lives on a credit card? I'm aware that a lot of people are just moving their equity gains into bigger homes for similar (or smaller) mortgage payments, but once the gas runs out...