Inquiring minds are looking at The LATimes’ in regards to the latest data showing that the San Francisco Bay Area housing numbers continue to weaken:
Sales of all condominiums and houses fell 3.3% from September and 22.8% from October 2009 to 6,122, according to San Diego real estate research firm MDA DataQuick.
It was the slowest sales pace for any October since 2007 and the second-slowest October since DataQuick began tracking sales in 1988.
The median Bay Area home price was $395,000 in October, a 3% decline from September and a 1.8% drop from October 2009.
And with the other problems of the state…namely, unfunded public pensions, high taxes, hi-tech companies leaving in droves, etc…the end is probably not in site. Just think, 58% of the nation’s Alt-A loans are in California and the predicted defaults are now just really hitting the market.
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