[quote=ocrenter]you can infer some of that by looking at the % with over 30% of income going to mortgage. and the Covenant vs the north CV tracts are really of no difference, all are within the 40-50% mark. And that doesn’t really mean much as it simply means rich folks defer paying off their mortgage secondary to tax benefits.[/quote]
Yes, but the residents INSIDE the covenant are claiming LESS income than CV and it is MORE expensive to live inside the covenant than CV due to high HOA dues, grounds maintenance, utilities, etc. I don’t think they’re paying all these expenses with their good looks, ocrenter.
This leads me to believe that the covenant residents’ outstanding mortgages overall are smaller than those of CV (40-50% of LESS income is LESS mtg pymt). At the same time, the properties inside the covenant are worth far more than CV (92130). This would lead one to believe that the homeowners inside the covenant have a higher net worth than those of CV.
