[bearishgurl]

I just read two pages of the comments on the article. The general consensus seems to be that the higher conforming limits enacted in the last three years have only served to help those purchasing “McMansions” and/or properties in exclusive zip codes that these buyers would otherwise not qualify to purchase. Commenters from coast to coast and all walks of life are not sympathetic to buyers needing government-assisted mortgages to purchase in Monterey, CA. A few made fun of the “flight attendant” who obviously purchased a property in Monterey with a low downpayment for 10-14 times his annual salary. A few made fun of the (quoted) comment, “Why should I be penalized for living in an affluent area?” by stating words to the effect of, “You made that choice. No one forced you to.”

In general, folks from America’s midsection and the south are not amused that many homebuyers in coastal CA have stretched themselves to the brink.

[bearishgurl]

I just read two pages of the comments on the article. The general consensus seems to be that the higher conforming limits enacted in the last three years have only served to help those purchasing “McMansions” and/or properties in exclusive zip codes that these buyers would otherwise not qualify to purchase. Commenters from coast to coast and all walks of life are not sympathetic to buyers needing government-assisted mortgages to purchase in Monterey, CA. A few made fun of the “flight attendant” who obviously purchased a property in Monterey with a low downpayment for 10-14 times his annual salary. A few made fun of the (quoted) comment, “Why should I be penalized for living in an affluent area?” by stating words to the effect of, “You made that choice. No one forced you to.”

In general, folks from America’s midsection and the south are not amused that many homebuyers in coastal CA have stretched themselves to the brink.

[bearishgurl]

I just read two pages of the comments on the article. The general consensus seems to be that the higher conforming limits enacted in the last three years have only served to help those purchasing “McMansions” and/or properties in exclusive zip codes that these buyers would otherwise not qualify to purchase. Commenters from coast to coast and all walks of life are not sympathetic to buyers needing government-assisted mortgages to purchase in Monterey, CA. A few made fun of the “flight attendant” who obviously purchased a property in Monterey with a low downpayment for 10-14 times his annual salary. A few made fun of the (quoted) comment, “Why should I be penalized for living in an affluent area?” by stating words to the effect of, “You made that choice. No one forced you to.”

In general, folks from America’s midsection and the south are not amused that many homebuyers in coastal CA have stretched themselves to the brink.

[bearishgurl]

We have been discussing this article today on the Wanna be a Knife Catcher? Buy Now! thread.

edit: Here’s some comments about the article from across the nation.

http://community.nytimes.com/comments/www.nytimes.com/2011/05/11/business/11housing.html

[bearishgurl]

We have been discussing this article today on the Wanna be a Knife Catcher? Buy Now! thread.

edit: Here’s some comments about the article from across the nation.

http://community.nytimes.com/comments/www.nytimes.com/2011/05/11/business/11housing.html

[bearishgurl]

We have been discussing this article today on the Wanna be a Knife Catcher? Buy Now! thread.

edit: Here’s some comments about the article from across the nation.

http://community.nytimes.com/comments/www.nytimes.com/2011/05/11/business/11housing.html

[bearishgurl]

We have been discussing this article today on the Wanna be a Knife Catcher? Buy Now! thread.

edit: Here’s some comments about the article from across the nation.

http://community.nytimes.com/comments/www.nytimes.com/2011/05/11/business/11housing.html

[bearishgurl]

We have been discussing this article today on the Wanna be a Knife Catcher? Buy Now! thread.

edit: Here’s some comments about the article from across the nation.

http://community.nytimes.com/comments/www.nytimes.com/2011/05/11/business/11housing.html

[bearishgurl]

OTOH, Fannie/Freddie is in place to assist homebuyers in Salinas :=) A $483K conforming limit is more than adequate for this purpose.

[bearishgurl]

OTOH, Fannie/Freddie is in place to assist homebuyers in Salinas :=) A $483K conforming limit is more than adequate for this purpose.

[bearishgurl]

OTOH, Fannie/Freddie is in place to assist homebuyers in Salinas :=) A $483K conforming limit is more than adequate for this purpose.

[bearishgurl]

OTOH, Fannie/Freddie is in place to assist homebuyers in Salinas :=) A $483K conforming limit is more than adequate for this purpose.

[bearishgurl]

OTOH, Fannie/Freddie is in place to assist homebuyers in Salinas :=) A $483K conforming limit is more than adequate for this purpose.

[bearishgurl]

[quote=walterwhite]17 mile drive is among the nicest bicycle ride routes you can take in the USA and it’s in Monterey. Ultimately pointless of course, but beautiful beyond description.[/quote]

This is what I’m trying to drive home here, scaredy. Spotted deer running on the beach and matching spotted seals make this a tourist area. This is one of the jewels of CA. It is NOT a middle-class or working-class family area (that FNMA and FDMC backed mortgages are in place to assist) and never will be.

[bearishgurl]

[quote=walterwhite]17 mile drive is among the nicest bicycle ride routes you can take in the USA and it’s in Monterey. Ultimately pointless of course, but beautiful beyond description.[/quote]

This is what I’m trying to drive home here, scaredy. Spotted deer running on the beach and matching spotted seals make this a tourist area. This is one of the jewels of CA. It is NOT a middle-class or working-class family area (that FNMA and FDMC backed mortgages are in place to assist) and never will be.

[Author]

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