1.26.2008

Rock you like a hurricane

According to Countrywide, San Diego is in a Category 4 housing hurricane. That means Countrywide restricts lending and requires bigger down payments.

Who's Category 5? Las Vegas, Phoenix, Florida, and inland California.

If even the dumbest lenders like Countrywide realize that they are likely to lose money on home loans in these areas, it should give prospective buyers some serious concern about the prices they are paying.

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