Word: jumboland
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...interest rates on loans of that size afflict only one in five buyers nationwide. And so what? They can afford it, right? Don't be so sure. In today's torrid housing market, prices in some regions are escalating far faster than personal income, shoving more home buyers into jumboland without a paycheck to match. In Louisville, Dallas and Phoenix, prices are going up 7% to 10% a year. In Charleston, S.C., home prices rose 16% last year. In San Francisco the median home price rose 12%, to a pocket-draining $321,700. Let's put that number in perspective...
There's never been so much excitement in Jumboland...
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