Thursday, June 06, 2013

Zillow CEO: Rising Mortgage Rates May Trap You - Yahoo! Finance

Zillow CEO: Rising Mortgage Rates May Trap You
"The reason for the limited supply is that "44 percent of Americans with a mortgage are effectively in a negative equity position," he said. "Meaning if they sold their home, they wouldn't be able to clear their mortgage. They're basically trapped in their home and can't list."
""We're now seeing unsustainably high rates of appreciation," Rascoff said. "In Phoenix, in San Francisco, in Orange County and San Jose, [Calif.], 20-plus percent year-over-year appreciation. Far too high. We've come back too fast. It's concerning."

Sunday, June 02, 2013

Inside San Jose's largest homeless encampment, the Jungle - San Jose Mercury News

Inside San Jose's largest homeless encampment, the Jungle - San Jose Mercury News
"If you're out here, the system has failed you...The safety net that was supposed to catch you didn't. I think it's a terrible statement for our community that there are people who believe this is their best option. This is a terrible, terrible place for anyone to live."