Originally Posted by Big E

Some more interesting San Diego stats: over 20% of the people taking out mortgages here in San Diego spend MORE than 50% of their gross income on their mortgages. AND.. if that ain't crazy, over 75% of the mortgages in San Diego are ARMs. These people are betting their houses on the fact that prices will continue to appreciate and they'll be able to cash out before interest rates rise and/or their ARMs convert. That's just sick..