http://www.up2daterealestate.com/2008/10/29/pasadena-south-pasadena-real-estate-market-volatility/ Brought to you by Doug and Deena Willis Wed, 25 Aug 2010 15:49:51 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.up2daterealestate.com/2008/10/29/pasadena-south-pasadena-real-estate-market-volatility/comment-page-1/#comment-2673 Hannah B. Fri, 07 Nov 2008 17:53:35 +0000 http://www.up2daterealestate.com/2008/10/29/pasadena-south-pasadena-real-estate-market-volatility/#comment-2673 I think your question is a bit off. It should be "why is South Pasadena real estate holding its value better than Pasadena?". The current median income for South Pasadena doesn't even support the current median home price without exotic loan programs. With the state of the SoCal housing market and how Pasadena has been dropping, I think it's very unlikely that somehow South Pasadena is insulated from the credit crisis just because of these 5 factors. It's no longer your home is worth what someone is willing to pay for it; instead, it's your home is worth what someone's bank is willing to finance it for. I think your question is a bit off. It should be “why is South Pasadena real estate holding its value better than Pasadena?”. The current median income for South Pasadena doesn’t even support the current median home price without exotic loan programs. With the state of the SoCal housing market and how Pasadena has been dropping, I think it’s very unlikely that somehow South Pasadena is insulated from the credit crisis just because of these 5 factors. It’s no longer your home is worth what someone is willing to pay for it; instead, it’s your home is worth what someone’s bank is willing to finance it for.

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