patrick.net

 
  forgot password?   register

#housing #investing #politics more»
735,241 comments in 75,652 posts by 10,906 registered users, 9 online now: astronut97, BlueSardine, Blurtman, CBOEtrader, FP, Patrick, PCGyver, rpanic01, YesYNot

new post

One man's mortgage debt is an entire neighborhood's equity

By golfplan18   2013 Jan 22, 11:14pm   787 views   1 comment   watch (0)   quote      

http://ochousingnews.com/news/one-mans-mortgage-debt-is-an-entire-neighborhoods-equity?source=Patrick.net

Residential real estate is generally valued by comparable neighborhood sales. When a property sells for a new high price, it doesn’t just affect the value of that property, it impacts the value on all similar properties within a mile of the new sale. During the housing bubble, neighbors cheered each new higher comp because it added to their (illusory) net worth. With unrestricted access to equity with no-doc loans and 100% LTV HELOCs, everyone near a new high comp was basically given free money. The late arrivals all eagerly waited a greater fool to come along and buy at an...

#housing

Comment 1-1 of 1     Last »

1   PockyClipsNow   57/57 = 100% civil   2013 Jan 23, 10:11am  ↑ like   ↓ dislike   quote    

The home equity wealth was no illusion unless my bank statements are fake. All u had to do was click the sell button and rent.

Comment 1-1 of 1     Last »

users   about   suggestions   contact  
topics   random post   best comments   comment jail  
patrick's 40 proposals  
10 reasons it's a terrible time to buy  
8 groups who lie about the housing market  
37 bogus arguments about housing  
get a free bumper sticker:

top   bottom   home