Bunk Bubble?

Banking Bubble

OK, let me toss in a few disclaimers here.  First off, I’m a Realtor, so ’nuff said.  Second, I’m about to give a link to a report from the National Association of Realtors, which is a trade group dedicated to selling houses.  So perhaps you’ll want to take all this with the requisite spoonfulls of salt.

I just got this sent over in an e-mail to me from a mortgage broker, who in turn got it from a seminar he went up to in San Francisco.  What’s more, I believe that this is not new information, but in fact came out last year sometime.  Although the report itself I believe is a year or so old, the data in it is probably much the same.  The only thing that’s changed, I think, is that interest rates are a bit higher, and home prices are, commensurately, a tad lower – which in fact kind of underlines the point of the article, which is that while the Home Price-to-Income ratio has gotten out of whack over the past several years, the Home Payments-to-Income ratio has gotten far less out of whack than people have supposed, and is only a bit less affordable than the historical norm in the San Francisco Bay Area.

Of course, this isn’t the San Francisco Bay Area – this is Santa Cruz!  However, a lot of the dollars that drive our market comes from the Bay Area, as anyone who has the pleasure to sit on Highway 1 Northbound on any weekday will tell you.  It would be nice to see NAR do a report just on Santa Cruz, since do have the honor of being one of the least-affordable housing markets in the country…but I haven’t seen the NAR guys down here snooping around lately.

Time to talk to a REALTOR?

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About the Author
Seb Frey helps long-time Bay Area homeowners make their next move easily the next one yet. If you're looking for a minimum of hassle, maximum net cash on sale, and certain results, contact Seb today.