A friend told me stories yesterday about two of his friends. One bought a condo here in SD. He just experienced a reset and is in deep trouble because he can’t refinace. The other story was about a friend in another CA city who bought a condo conversion. She came home the other day to discover that it had reverted to apartments.
I had a conversation with anther friend who said that for the first time in years she is hearing, “You are so lucky you’re renting.”
The watercooler talk has started and it won’t be long before everybody knows somebody in trouble.
