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jimmyle.
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May 20, 2010 at 2:26 PM #553323May 20, 2010 at 2:29 PM #552357
UCGal
ParticipantSome more statistics that are not specifically “wealth distribution” related – but interesting.
From the table that has the financial data about households WITH mortgage (the sister to the data in my previous post) Again – this is from the census, and based on San Diego county households.
median value of home with mortgage in SD County:
$556,700
(compared to $479k for homes w/out mortgage)medium household income for households with mortgage)
$95,170
(compared to $48k for homes w/out mortgage)The ratio of value to hh income was similar to the no mortgage group – 73% were a ratio of 4 or higher. (Again – I suspect housing value has more to do with this than income.)
36.7% of folks with a mortgage also have a 2nd mortgage and/or HELOC. 63.3% only have a first mortgage.
median real estate taxes paid are higher for those who pay a mortgage – implying the homes were purchased more recently. (Prop 13 effect.)
Very cool data….
May 20, 2010 at 2:29 PM #552464ParticipantSome more statistics that are not specifically “wealth distribution” related – but interesting.
From the table that has the financial data about households WITH mortgage (the sister to the data in my previous post) Again – this is from the census, and based on San Diego county households.
median value of home with mortgage in SD County:
$556,700
(compared to $479k for homes w/out mortgage)medium household income for households with mortgage)
$95,170
(compared to $48k for homes w/out mortgage)The ratio of value to hh income was similar to the no mortgage group – 73% were a ratio of 4 or higher. (Again – I suspect housing value has more to do with this than income.)
36.7% of folks with a mortgage also have a 2nd mortgage and/or HELOC. 63.3% only have a first mortgage.
median real estate taxes paid are higher for those who pay a mortgage – implying the homes were purchased more recently. (Prop 13 effect.)
Very cool data….
May 20, 2010 at 2:29 PM #552951ParticipantSome more statistics that are not specifically “wealth distribution” related – but interesting.
From the table that has the financial data about households WITH mortgage (the sister to the data in my previous post) Again – this is from the census, and based on San Diego county households.
median value of home with mortgage in SD County:
$556,700
(compared to $479k for homes w/out mortgage)medium household income for households with mortgage)
$95,170
(compared to $48k for homes w/out mortgage)The ratio of value to hh income was similar to the no mortgage group – 73% were a ratio of 4 or higher. (Again – I suspect housing value has more to do with this than income.)
36.7% of folks with a mortgage also have a 2nd mortgage and/or HELOC. 63.3% only have a first mortgage.
median real estate taxes paid are higher for those who pay a mortgage – implying the homes were purchased more recently. (Prop 13 effect.)
Very cool data….
May 20, 2010 at 2:29 PM #553050ParticipantSome more statistics that are not specifically “wealth distribution” related – but interesting.
From the table that has the financial data about households WITH mortgage (the sister to the data in my previous post) Again – this is from the census, and based on San Diego county households.
median value of home with mortgage in SD County:
$556,700
(compared to $479k for homes w/out mortgage)medium household income for households with mortgage)
$95,170
(compared to $48k for homes w/out mortgage)The ratio of value to hh income was similar to the no mortgage group – 73% were a ratio of 4 or higher. (Again – I suspect housing value has more to do with this than income.)
36.7% of folks with a mortgage also have a 2nd mortgage and/or HELOC. 63.3% only have a first mortgage.
median real estate taxes paid are higher for those who pay a mortgage – implying the homes were purchased more recently. (Prop 13 effect.)
Very cool data….
May 20, 2010 at 2:29 PM #553328ParticipantSome more statistics that are not specifically “wealth distribution” related – but interesting.
From the table that has the financial data about households WITH mortgage (the sister to the data in my previous post) Again – this is from the census, and based on San Diego county households.
median value of home with mortgage in SD County:
$556,700
(compared to $479k for homes w/out mortgage)medium household income for households with mortgage)
$95,170
(compared to $48k for homes w/out mortgage)The ratio of value to hh income was similar to the no mortgage group – 73% were a ratio of 4 or higher. (Again – I suspect housing value has more to do with this than income.)
36.7% of folks with a mortgage also have a 2nd mortgage and/or HELOC. 63.3% only have a first mortgage.
median real estate taxes paid are higher for those who pay a mortgage – implying the homes were purchased more recently. (Prop 13 effect.)
Very cool data….
May 20, 2010 at 2:32 PM #552362sdrealtor
ParticipantFWIW, Fall 1997 was NOT the bottom of the last cycle.At least not in NCC. I bought a townhome in Encinitas is Fall 1997. I had sold previously for about 15% less in 1995. It may be different in other parts of SD, but in NCC 1995/1996 was definitely the bottom here.
May 20, 2010 at 2:32 PM #552469ParticipantFWIW, Fall 1997 was NOT the bottom of the last cycle.At least not in NCC. I bought a townhome in Encinitas is Fall 1997. I had sold previously for about 15% less in 1995. It may be different in other parts of SD, but in NCC 1995/1996 was definitely the bottom here.
May 20, 2010 at 2:32 PM #552956ParticipantFWIW, Fall 1997 was NOT the bottom of the last cycle.At least not in NCC. I bought a townhome in Encinitas is Fall 1997. I had sold previously for about 15% less in 1995. It may be different in other parts of SD, but in NCC 1995/1996 was definitely the bottom here.
May 20, 2010 at 2:32 PM #553055ParticipantFWIW, Fall 1997 was NOT the bottom of the last cycle.At least not in NCC. I bought a townhome in Encinitas is Fall 1997. I had sold previously for about 15% less in 1995. It may be different in other parts of SD, but in NCC 1995/1996 was definitely the bottom here.
May 20, 2010 at 2:32 PM #553333ParticipantFWIW, Fall 1997 was NOT the bottom of the last cycle.At least not in NCC. I bought a townhome in Encinitas is Fall 1997. I had sold previously for about 15% less in 1995. It may be different in other parts of SD, but in NCC 1995/1996 was definitely the bottom here.
May 20, 2010 at 2:35 PM #552367bearishgurl
ParticipantUCGal, great research.
24% of all the privately-owned housing stock in SD County is owned free and clear.
The median income used to maintain this stock is $48K (prob. does not incl. ret. assets, if owned). Although not all free/clear owners have this low of an income, $48K is a lower MC income.
It supports what I’ve always believed. Thank you.
May 20, 2010 at 2:35 PM #552474ParticipantUCGal, great research.
24% of all the privately-owned housing stock in SD County is owned free and clear.
The median income used to maintain this stock is $48K (prob. does not incl. ret. assets, if owned). Although not all free/clear owners have this low of an income, $48K is a lower MC income.
It supports what I’ve always believed. Thank you.
May 20, 2010 at 2:35 PM #552961ParticipantUCGal, great research.
24% of all the privately-owned housing stock in SD County is owned free and clear.
The median income used to maintain this stock is $48K (prob. does not incl. ret. assets, if owned). Although not all free/clear owners have this low of an income, $48K is a lower MC income.
It supports what I’ve always believed. Thank you.
May 20, 2010 at 2:35 PM #553060ParticipantUCGal, great research.
24% of all the privately-owned housing stock in SD County is owned free and clear.
The median income used to maintain this stock is $48K (prob. does not incl. ret. assets, if owned). Although not all free/clear owners have this low of an income, $48K is a lower MC income.
It supports what I’ve always believed. Thank you.
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