60%
15/04/05 20:30 Filed in: Housing
Insanity
Over sixty percent of San Francisco homes bought last
year were purchased with interest-only loans:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/04/15/HOMES.TMP quote:
"Economists worry, however, that the second part of Gabriel's adage may apply to uber-expensive markets like the Bay Area. Specifically, they cite the large percentage of risky interest-only loans in the market -- 62 percent of total loans in San Francisco last year, according to market researcher LoanPerformance."
Lunacy. Stark, utter lunacy.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/04/15/HOMES.TMP quote:
"Economists worry, however, that the second part of Gabriel's adage may apply to uber-expensive markets like the Bay Area. Specifically, they cite the large percentage of risky interest-only loans in the market -- 62 percent of total loans in San Francisco last year, according to market researcher LoanPerformance."
Lunacy. Stark, utter lunacy.
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