Comments on: FHA insured loans filling mortgage void left from toxic mortgage lenders. Serious delinquent loans at 9 percent while FHA insured loans pass Fannie Mae and Freddie Mac in Q1. FHA a loan for non-savers.

By: Chester

Chester — Fri, 08 Oct 2010 22:22:11 +0000

The only problem with that idea is that it is cheaper to buy than to rent in a lot of cases, and many people for sure can’t afford to pay $1500 or $2000 a month to rent a place to live. As of now, even an old converted motel room rents for $500 a month or more, while a decent apartment or house will start off in the neighborhood of $1000. Granted, there are a few cheaper places, but they aren’t much good if you can’t afford the up front costs of moving in, which are running in excess of $1500 on a more modestly priced home just to have electricity and basic services.

By: Dwayne

Dwayne — Mon, 31 May 2010 00:42:19 +0000

California is out of whack because of all the smoke and mirrors . You have people who have become rich because of real estate sales . You have trust fund babies and lots of inherited wealth and many more spending every dime and borrowing just as much to keep up. Fiscal responsibilty is to California what sane is to insane.

By: jrs

jrs — Sun, 30 May 2010 18:04:22 +0000

[quote]I was wondering how the prices have gotten so out of wack with the national average.[/quote]

Prop 13 probably has something to do with it, in that is does keep old properties off the market and thus makes the real estate market less fluid than it would normally be (you don’t sell old or even inherited properties if you are getting a tax break you won’t get in any other circumstance). Still I think Prop 13 contributes, but I don’t think it entirely accounts for it. So then you are left with what to explain California’s whacky real estate prices? Sunshine? Nice try but some other states have fairly good weather as well. Overpopulation? The state is definitely overpopulated, but you would figure that would work itself out with people relocating to cheaper states. California psychology, as in that sunshine must be causing brain damage?

By: PRCalDude

PRCalDude — Sun, 30 May 2010 02:16:12 +0000

“Me and my wife are both in our early 30’s with no kids and bring home several times the median income, yet we can’t afford a house in the San Fernando Valley.”
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Blessing in disguise right there. Why would you want to buy in the state’s armpit?
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” Where are people getting this money from? Are they not aware of all the pain about to come? ”
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Well, look at the people in the San Fernando valley. Do they strike you as people who plan for the future with good impulse control?

By: PRCalDude

PRCalDude — Sun, 30 May 2010 02:11:36 +0000

Can you provide data showing at least a correlation between per capita spending on education and the academic performance of students?
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Put up or shut up.