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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: kikogrey who wrote (107249)	2/29/2008 2:55:31 AM
From: Peter V	Respond to of 306849

If you live anywhere except the outlying areas like Corona, you will pay 300K - 400K for a house in the hood. And I mean the hood. For some real fun, do a search on the MLS for Compton. Houses start at $200K, and 90 percent of them up to $300K are REO or bank owned or short sales. Compton is serious gang territory, especially where the houses are 200K - 400K. South Central (Metropolitan South on MLS) is about as bad as it gets, and there is virtually nothing below $200K and they go up to $600K. How can lower class working people even come close to making those kinds of payments? It's no wonder they fell prey to the toxic loan offers, there was no other way they could even come close. Not that I want to subsidize them now with a mortgage bailout, they need to get out and go back to being renters.