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Old 07-01-2008, 02:20 PM
 
233 posts, read 828,511 times
Reputation: 90

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Quote:
Originally Posted by galtjohn View Post
According to the Case-Shiller index (which tracks prices in major metro areas nationwide) prices in SF have been down 20% year-over-year for the last couple of months.

here is the link to all the historical data if anyone is interested. this is through the end of april, so it isn't completely up-to-date and i'd expect continued declines in the upcoming reports. prices in SF are still 65% higher than in january of 2000:

http://www2.standardandpoors.com/spf...ory_062418.xls

as you can see SF & NYC have been the slowest to decline but with all the mortgage garbage since last summer even the so-called 'immune' areas have been impacted pretty significantly. x-axis is # of months since january 1987:

http://img377.imageshack.us/img377/64/housingdi2.png

Good info. Thanks
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Old 07-05-2008, 08:03 PM
 
233 posts, read 828,511 times
Reputation: 90
I don't plan on buying anytime soon, so it's perfect news for me
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Old 07-12-2008, 01:12 AM
 
Location: Conroe, TX
684 posts, read 2,112,589 times
Reputation: 199
Don't place your hopes on more tubing in the real estate market...may sound good on the front cover, but the bugaboo in the shadows for ALL, not just home buyers and sellers = higher credit costs across the board, lower interest returns on savings. increasing rents and decreasing rental home availability due to displaced victims of foreclosures. Also employer layoffs since one sector of the economy feeds (or starves) another. Like it or not, the economic quaqmire affects all of us, and all of our futures. The haves and the have nots, like it or not, depend on a symbiotic relationship.

For folks hoping real estate goes down further...be careful what you wish for.
Real estate, auto sales, stocks are three of the most crucial businesses that control the overall economy...the abilility to buy and sell...That is why economists watch these industries so carefully. They ARE important to all of us for many reasons!

Pray the real estate downturn ends soon.

That would be good news for everyone. Been through this a few times in my life...know the tune, know the lyrics.
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