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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (23104)12/8/2004 4:32:44 PM
From: Jon Tara  Read Replies (1) of 110194
 
San Diego Union Tribune ran an article Sunday entitled "Risky Business", about consumers over-extending themselves on real estate.

There was a rather shocking chart of ARM use in San Diego.

% of San Diego County home purchases that use adjustable-rate mortgages for financing:

January 2000 - 37.5%
2001 - 20%
2002 - 30%
2003 - 40%
October, 2004 - 82.3%

Median home price has risen from about $225,000 to $460,000, while median income has risen from a bit under $50,000 to $52,192.
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