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Peter P
2006 Feb 15, 8:44am
Peter P
2006 Feb 15, 8:44am
Something was wrong with the Google thread, it would not scroll down to the bottom, nor did it include the submit comment box. Is that my computer or the thread?
Hmm, strange. Try refreshing the page.
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One axiom of real estate is that each market is local and unique. However, money is national or even global. Since credit has been the principle contributing factor in this bubble, we should accept the fact that all "local" housing markets will interact.
Many markets are now in decline. One very reasonable expectation is that the mortgage market will dry up because of the reflexivity between collateral value and credit. If and when this happens, the correction will come to the Bay Area, no matter how "special" and "immune" it may be.
#housing