Some factoids I heard on CNBC today were pretty shocking.
- 750,000 foreclosures in Q3.
- In 2004, 2005, 2006, Americans took out between $500B and $800 billion per year in home equity loans. What the heck were these people doing with that money.
- On the other hand 80% of all homeowners have sufficient equity to weather the current crisis. It gets ugly, however, if home prices drop another 20%. Then a lot more people may walk away.
About Me
- William Q
- I am a venture capitalist in California. I grew up in the Bay Area and came down to LA to go to college (USC). After leaving Disney in the early 90's, I got an MBA (Harvard) and became a venture capitalist. My firm, Clearstone Venture Partners, has been making investments in consumer and enterprise companies for 10 years. I live in Pacific Palisades, part of Los Angeles, and love just about everything LA offers. LA is a great place to find other creative people and build new businesses in the Internet, media and communcations markets.
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