enron_by_the_sea wrote:This

[UCGal]

[quote=enron_by_the_sea]This is actually very interesting data. Thanks

For example, I noticed that median household income in some areas popular with Pigg homefinders is much higher than what I was thinking.

Carmel Vally tract 8333 – $126676
Carmel valley tract 8328 -$194063
Sorrento Valley tract 8346 -$135313
NW Mira Mesa tract 8347 – $98600
Scripps Ranch tract 17046 -$132941
Scripps Ranch tract 9504 – $146705

I can go on and on. But seems like these areas may not be filled with overextended homeowners as some are alleging.[/quote]

I’m not sure you can state people aren’t over extended… One of the data points is “Mortgages Consuming over 30% of income”. Which indicates fairly high DTI ratios.

Those same tracts:
Carmel Vally tract 8333 -47% have mortgages over 30%
Carmel valley tract 8328 -49%
Sorrento Valley tract 8346 – 39%
NW Mira Mesa tract 8347 – 44%
Scripps Ranch tract 17046 -47%
Scripps Ranch tract 9504 – 50%

So – about half the folks in these zips are spending a large percentage of their (large) income on housing. That’s a recipe for distress if a household loses a job.