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bill gross at pimco has written a great piece about the subprime mortgage housing market and it's possible repurcussions
http://tinyurl.com/2zfsv6
Why do you even live in California eburbed? You really seem to think that it is a terrible place, why do you stay?
skibum, thanks for the NYT article. That is the kind of hard data I was looking for.
Ms Lisa,
Thanks for the insider's story. Very interesting, and it's too bad honest appraisers are getting the shaft as a result of the dishonest ones.
Malcolm
@
2007 Apr 10, 9:20am
Recently, I’ve been wondering just how far into the economy this bubble burst is going to reach. ..in real, everyday Joe terms. And this group of bloggers seem just the right people to ask.
One good thing I've noticed, the waiting time at Black Angus seems to be getting better on the weekends.
Malcolm,
What about Outback Steakhouse. I don't like the concept or the food, but everytime I go there with my boyfriend, it's filled up the gills.
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Now that the subprime storm is making landfall, we should forecast the damages it is about the cause.
In the Bay Area, what is considered subprime?
Is a brand-new, 750K townhouse susceptible to this first wave of credit contraction? How about a 700K, circa 1950 spec house?
Or is subprime more defined in terms of location? Which county should be worried? Will the gentrification of East Palo Alto and East San Jose continue?
Peter P