Friday, November 14, 2008
Bay Area Homeowners in Trouble
According to The SF Chronicle and Zillow.com, around 20% of California Bay Area homeowners have no equity in their homes:
Zillow's estimated prices are not 100% accurate (that's the nature of an estimate), but it's very hard to price houses in this market; therefore, Zillow might be the closest thing we have to getting what I call the "misery numbers."
Hat tip to Barry Ritholtz for linking to the SF Chronicle article first.