October 26, 2008

California Housing Woes

California has been ground zero for bubble and bust mortgage market. From the WSJ, one can see how extensive and destructive the past five years have been. In this view, the deep red county is Merced, with 84% of the home owners in that county with negative equity. How does a county make up for 84% negative equity?

california-market.JPG
Click on the image to be taken to the WSJ interactive graphic

(h/t to The Big Picture)

Posted by Mary at October 26, 2008 07:33 PM | Economy | Technorati links |
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