Relevant:
- The collapsing prices in Irvine condos
- No Country for Families -- the demand for two and three bedroom housing in California. The Irvine condo market and the cost of going from 1 to 2 to 3 bedrooms.
- Bear Stearns halts lending in Irvine, cuts 150 jobs
- Pugh likely to walk away from mortgage on Brush Park condo
- U.S. property bust threatens condo "death spiral"
2012-06-21 — doctorhousingbubble.com
Many people are diving in because of low rates and cuts to sticker price but they fail to take the entire additional costs here. For example, in our example condo today even if someone bought it for $300,000 in cash, they would still need to pay $1,000 per month in taxes and HOA dues forever! Sure makes the definition of paying something off vastly different from what we would think.
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