Quote:
Originally Posted by ewitte
Then again "being in santa barbara" probably less than whats owed on mortgage by now. California is getting hit pretty hard.
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California has been hit hard by the recession but there are areas throughout the country that are affected much less. Santa Barbara has not been affected as much by the down real estate market. It is hard to find a nice 3 bedroom 2 bath 1500 square foot home for under $800,000 (you don't get a lot for your money). The market here is really stupid! Being a financial planner, I would be foolish to be upside down in my home. One reason the country is in a recession is that people over-extended them selves by buying homes they can't afford, taking equity out to purchase cars and crap and live paycheck to paycheck. Sorry if I am coming off strong. Your comment is to general. Not all of us are feeling the recession!