20% of SF BAy Area homes are under water....

[vballmom]

<p>r.e. the NY Times article mentioned in a previous post; that article was about Mountain House, which is about 60 miles east of San Francisco and is considered to be in the Central Valley, not the Bay Area. Many people purchased there in order to commute to the Bay Area, because Bay Area homes were beyond their reach.</p>

<p>

MOUNTAIN HOUSE, Calif. — This town, 59 feet above sea level, is the most underwater community in America.</p>

<p>Because of plunging home values, almost 90 percent of homeowners here owe more on their mortgages than their houses are worth, according to figures released Monday. That is the highest percentage in the country. The average homeowner in Mountain House is “underwater,” as it is known, by $122,000.

</p>

[Shrinkrap]

<p>Article says folks are “most” underwater in MY county. We are also recently famous for being the only county in the bay area in which the majority voted in favor of prop 8…go us!</p>

<p>Ooo! Most home sold at a loss too!</p>