San Antonio is the 4th Busiest Housing Market in the U.S. Today (Austin: real estate, credit report)

[majormadmax]

Originally Posted by blaircedarbank

Half the people who bought homes from 2005-09 in this city are now underwater...

Really? Show me the stats that prove that; otherwise you're making it up. Everything I read disagrees with your claim...

San Antonio's Not Affected by Underwater Mortgages

The number of homeowners in the San Antonio-New Braunfels area who owe more on their mortgages than their homes are worth has steadily declined since the start of 2010. According to CoreLogic's 2011 first quarter report, only 9.2% of the area's residential properties were underwater. This percentage includes 30,837 borrowers, less than 2010's 34,218 borrowers equaling 10.4%. And additional 18,914 borrowers were within 5% of becoming underwater, still down from 5.2% compared to last year. San Antonio's underwater statistics are great compared to the rest of the nation which have 22.7% of properties underwater. Las Vegas alone has 66%. In Texas overall, 10.1% of properties are underwater, down from 11.8% the year before.

The reasoning behind these numbers is that much of the financing tactics that were taking place in the rest of the nation during the housing boom did not happen in Texas. So the state hasn't seen as much decline as others. Texas residents also benefitted from the strict requirements on home-equity financing. Borrowers couldn't take out home equity loans larger than 80% of their homes' values. CoreLogic says over 40% of underwater properties have home equity loans.

So less than ten percent, a far cry less than "half" as you claim.

The mortgage situation here isn't as bad here as you think, at least according to this more recent article...

According to the latest analysis by Santa Ana, Calif.-based CoreLogic, as of the end of June, 4.35 percent of all mortgage loans in the San Antonio/New Braunfels area were delinquent by 90 days or more. Of those outstanding loans, 1.33 percent had entered some stage of the foreclosure process.

By comparison, at the end of June, 2011, 4.24 percent of loans on houses in the San Antonio/New Braunfels metro were 90 days or more delinquent — with 1.31 percent of those mortgages in some stage of the foreclosure process.

The bottom line: Delinquency and foreclosure rates among home mortgages in the San Antonio/New Braunfels metro rose by a fraction of a percentage point between June 2011 and 2012.

...but we'll afford you the chance to prove differently.

and my favorite restaurant just closed b/c it couldn't make it.

Wow, what a sign of economic despair! Krystal hamburgers closed down its two restaurants here, it isn't a sign of the end of the world.

In fact, given the huge number and prosperity of most local restaurants, it's more of an indication of the healthiness of our economy, not a sign of it's decline!

Moderator cut: Off-Topic The cost of living here is not that low, either. Trust me, my eyes are open, and I will be moving on, like so many others lately. Moderator cut: Off-Topic

Moderator cut: orphaned I hope you find the happiness that seems to allude you in San Antonio. Odd how so many love it here, and how it is one of the fastest growing cities in the nation; but I guess there will always be those who prefer someplace else. I only wish they would move there sooner rather than later and save us all the negativity!

Moderator cut: orphaned I am more concerned with the truth being told!

[teenwolf80]

Originally Posted by majormadmax

Really? Show me the stats that prove that; otherwise you're making it up. Everything I read disagrees with your claim...



So less than ten percent, a far cry less than "half" as you claim.

The mortgage situation here isn't as bad here as you think, at least according to this more recent article...



...but we'll afford you the chance to prove differently.



Wow, what a sign of economic despair! Krystal hamburgers closed down its two restaurants here, it isn't a sign of the end of the world.

In fact, given the huge number and prosperity of most local restaurants, it's more of an indication of the healthiness of our economy, not a sign of it's decline!

Moderator cut: orphaned I hope you find the happiness that seems to allude you in San Antonio. Odd how so many love it here, and how it is one of the fastest growing cities in the nation; but I guess there will always be those who prefer someplace else. I only wish they would move there sooner rather than later and save us all the negativity!

Moderator cut: orphaned I am more concerned with the truth being told!

You can scream facts and statistics all day and it still won't get across. I've done it too many times to count.

Countering the same posters who make unsupported claims with actual facts and statistics that fly in the face of their claims. Yet Moderator cut: National politics = Off-Topic for SA Forum they ignore them with their fingers in their ears and just continue regurgitating the same bs.

[teenwolf80]

Originally Posted by blaircedarbank

Half the people who bought homes from 2005-09 in this city are now underwater...

Please provide your supporting evidence proving this because I doubt it exists as it goes against actual factual studies.

and my favorite restaurant just closed b/c it couldn't make it.

A restaurant going out of business? That's so rare, esp outside of San Antonio.

An industry with a shelf life of less than 2 years...

The cost of living here is not that low, either.

Yes it is. How many rankings and lists does the city have to be on saying exactly that, that the cost of living is very low, before it sinks in?

Trust me, my eyes are open, and I will be moving on, like so many others lately.

So many others? Yeah, 50,000 a year (less than half by birth) yearly growth but you're right, like so many others.

[Azure110]

I actually believe the housing market isn't that strong for used homes. Now new homes, that is a different story. It seems like to me that most transplants want to build new homes but of course that is just speculation on my part.

[blaircedarbank]

I have no idea what you are talking about; you make no sense at all. I'm done on here... good luck in la-la land!

[teenwolf80]

Originally Posted by blaircedarbank

I have no idea what you are talking about; you make no sense at all. I'm done on here... good luck in la-la land!

What am i talking about? I make no sense? Moderator cut: Off-Topic

Page one.

You made a claim. Half of SA home owners who bought homes are underwater. Another poster than calls you out and posts factual information that that number is less than 10% and that the SA housing market is one of best in the nation.

THAT CLAIM.

Address it. I'll be in la la land not holding my breath.

[Azure110]

The "factual information" specifically addresses foreclosures throughout the article. Foreclosures and resale value of used homes are two different issues.

You can't foreclose on a new home because it was not privately owned before, as I said before, I feel that most people are buying new homes right now (using loans they should not be able to get) so of course foreclosure numbers may be low right now. In a few years, we will see how well some of these loans will hold up and where we stand on foreclosures. Some people here trying to sell their homes are not foreclosing but they can not get the value they paid originally partly because it is tough to compete with new homes on the market right now.

Moderator cut: see note

[SweethomeSanAntonio]

If S.A. didn't have a strong market it wouldn't be building so many houses.

[Pancho-Villa]

Originally Posted by SweethomeSanAntonio

If S.A. didn't have a strong market it wouldn't be building so many houses.

I thought Phoenix was in a pretty bad spot housing market-wise as well. Why would they be on the list? Maybe blaircedarbank is onto something.

[Azure110]

Originally Posted by SweethomeSanAntonio

If S.A. didn't have a strong market it wouldn't be building so many houses.

All that means to me is that the housing market for new homes is strong.

As I said before, what about resale value of existing homes? Are people breaking even or making a little profit when they sell their homes? No one has posted any factual data to answer that question for me.