Let’s revisit a post from

[svelte]

Let’s revisit a post from January 2008.

The discussion was the Bay Collection in Carlsbad, off Poinsettia centered around Heron Circle.

http://piggington.com/people_still_buying_at_full_price

Dominic posted the following data from the original public records for those homes when they were sold new in 2005:

Original Sale….Mortgage 1….Mortgage 2
——————————————-
1,650,000…1,000,000
1,100,000…..900,000….20,000
1,430,000…1,143,000
1,295,000…1,036,000…130,000
1,549,000…1,000,000…394,000
1,182,000…1,211,000
1,320,000…..680,000
1,199,000…1,220,000
1,407,000…..825,000…200,000
1,250,000…1,000,000…250,000
1,438,000…..986,000
1,000,000…..800,000…150,000
1,139,000…..838,000
1,656,000…1,324,000…165,000
1,191,000…..833,000
1,400,000…1,075,000…200,000
1,258,000…..710,000
1,390,000…..900,000
1,456,000…..975,000…375,000
1,900,000…1,000,000…400,000
1,240,000…1,105,000…240,000
1,265,000…1,000,000…250,000
1,245,000…..934,000
1,360,000…1,280,000…100,000
1,205,000…1,053,000
1,238,000…..980,000…250,000
1,234,000…..987,000…200,000
1,305,000…..700,000
1,435,000…1,000,000…291,000
1,250,000…1,000,000
1,412,000…..980,000
1,409,000…1,120,000
1,378,000…1,250,000
1,762,000…1,000,000…321,000
1,790,000…..870,000
1,351,000…1,201,000

Those are HUGE loan amounts! The mortgages must be astounding!

You can’t tell me those folks won’t be going under if they become unemployed. If they had any savings, I doubt they would be getting such huge mortgages.

It all hinges on what happens with the unemployment rate…watch that closely…