Low tier ($314k) down 7.5% YOY, still up ~4% from 2009 low
Mid tier down 8.5% YOY, still up 0.1% from 2009
High tier ($586k) down 2% YOY, still up 6.4% from 2009
November Case-Shiller SF
By ¥ Follow Tue, 31 Jan 2012, 12:44pm 1,562 views 10 comments
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Mountain View, CA
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Aaaaah, I love good news!
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next year or two i hope to see a double dip of all 3 tiers
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The month-to-month drop (1.93%) in the SF Bay Area C/S Index is worse than anything we saw in the nineties.
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San Leandro, CA
If California and other red states inflated by 80%, will they pendulum back 85% ?
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San Jose, CA
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EBGuy says
C-S is a lagging indicator. This is not what's happening at the courthouse steps in the last couple of months, but it's too early to make a trend at this point. :)
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Campbell, CA
It's pretty clear what the trend is tbh.
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San Jose, CA
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CrazyMan says
:)
Here are Santa Clara County Single-Family Home Stats
YoY Median price: -4.4% ($560k - $535k)
YoY Average Price: +4.3% ($693k to $722k)
YoY for San Jose, Median and Average prices are down -1.0% and -2.1% respectively.
YoY for Campbell, Meidan and Average prices are down -7.8% and -16.9% respectively. So your observation for your area is correct.
YoY for Los Altos, Median and Average prices are up +16.5% and +17.3% respectively.
YoY for Palo Alto, Median and Average prices are up +6.5% and +31.4% respectively.
To put things in perspective, the Fortress are holding up much better and are going up in value while the lower and middle price tiers are still going down.
So all things are not created equal. Yes, we will have 2 classes when all said and done. The rich and the poor. Hmm, maybe it's time to move into the Fortress. :)
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South Pasadena, CA
TMAC54 says
LOL, what a math!!! Did you know, you only need a deflation by 45% to wipe out an inflation by 80%.
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South Pasadena, CA
"Low tier ($314k) down 7.5% YOY, still up ~4% from 2009 low
Mid tier down 8.5% YOY, still up 0.1% from 2009
High tier ($586k) down 2% YOY, still up 6.4% from 2009"
Good, prices have a long way to fall.
BTW, are your figures in nominal $ values?
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Santa Cruz, CA
Bullshit, they're still going down everywhere *except* in a few spots.
There is a giant shadow inventory, there are zillions of foreclosures, and more foreclosures coming. The foreclosures have been steadily increasing for years now. This is not slowing down where I live.
15%+ unemployment, $54K median income, 150+ foreclosures out of 500 for sale, median house price $527K , down from peak of $700K+.
If you think those weirdos at Trader Joes, those homeless, those panhandler runaway kids, those Oaxacan girls pushing baby strollers will come up with the $110K CASH to get into a house, then by all means, things are going to improve very quickly here. No way Jose.