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

To: CalculatedRisk who wrote (298998)	12/19/2010 8:41:14 PM
From: morokko65	Read Replies (2) \| Respond to of 306849

The market here in SF area has died since October, usually when rates tick up the buyers jump of the fence, the last 90 bips sent them running for the hills I have a good friend who is down in Monterey/Carmel area and said the upper end has no demand, and a lot of denial. Many affluent were living off of their savings cushion in 2007-2009 and now they face having to sell as the 2009-2010 rebound here peters out. Maybe the number of loans that go bad in 2011 is less due to prior default or refis as you metion, but a 200-300 bip rate shock might provide a different flavor of black swan surprise in 2011.