Housing Bubble Explodes
by Michael
Anyone who maintains that the local housing market is still booming is either delusional or a real estate agent (probably both). Home sales in the Bay Area were down 36 percent in October compared to last year. What doesn't make sense is that the median price in the area still rose 2.4 percent compared to last year. If sales are down, and foreclosures are up, how does the median price defy market forces?
Posted under Read the Lede on Thursday, November 15th, 2007 at 11:29
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