LA/OC is now on the top 50 list of negative equity

graphrix_IHB

graphrix_IHB

New member
<a href="http://www.loanperformance.com/loanperformance_hpi.aspx">First American/Core Logic came out with their negative equity report this week</a>. Yes, you have to sign up if you want to see the data. Like the Case/Shiller index, they lump LA and OC together as a "metro area". I will see if Core Logic has the data broken down for just the OC "metro area", and if they do I will see if I can get it. But... no guarantees on either one. So... here are the stats for the LA/OC metro area...



<strong># Properties With a Mortgage Outstanding</strong>



# Mortgages:

2,142,196



# Negative Equity Mortgages:

749,817



Negative Equity Share

35.0%



# Near Negative Equity Mortgages:

829,618



Near Negative Equity Share:

38.7%



# Total of Negative Plus Near Negative:

1,579,435



Total Negative Plus Near Negative Share:

73.7%

<strong>

$ Amounts</strong>



$ Total Property Value:

$1,077,244,054,678.00



$ Mortgage Debt Outstanding:

$816,765,137,623.00



$ Net Homeowner Equity:

$260,478,916,826.00



Loan-to-Value Ratio:

76%



Aggregate Property Value in Negative Equity:

$311,943,968,512 .00



If I add in near negative equity with the negative equity, the aggregate total looks more like:

$648,728,868,532 00



So... does this mean this is the bottom? At least the LTV at 76% wasn't as bad as Las Vegas at 122%, or Riversas/San Berdoodoo at 107%.
 
[quote author="graphrix" date=1250443878]

So... does this mean this is the bottom? At least the LTV at 76% wasn't as bad as Las Vegas at 122%, or Riversas/San Berdoodoo at 107%.</blockquote>


Or does this mean we've got another 25-50% to go to catch up?
 
So, last year we weren't on the list at all.



I asked Graph what position we were in this time. He said "I think it was 15 out of 50".



That is quite a projection/trend line.
 
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