NorCal median home price plummets 41 percent Real estate data show San Francisco Bay area median home prices plunged 41 percent in October * Alex Veiga, AP Real Estate Writer * Thursday November 20, 2008, 2:58 pm EST LOS ANGELES (AP) -- Despite an increasingly uncertain economy, thousands of homebuyers around San Francisco Bay kept snatching up foreclosed homes last month, dragging down the median home price by 41 percent from a year ago, a real estate tracking firm said Thursday. The median home price in the nine-county region plunged to $375,000 in October, compared with $631,000 in the year-ago period, according to San Diego-based MDA DataQuick. Last month's median price was down 6.3 percent from September and nearly 44 percent from the peak median of $665,000 in the summer of 2007. http://finance.yahoo.com/news/NorCal-median-home-price-apf-13635742.html
neither left, nor right, nor centrist... just watching events unfold, nothing I nor you asked for, but we got it. thank Bush II for it all! thanks President Cheney, and VP Bush II
Get yourself a good pair of sturdy shoes. They will make the bread/soup lines and hopping freights easier to bear.
Let's not forget Greenspan. He made money free to borrow and unregulated. But hey unregulated capitalism is good right?
Contrary to the thread title, this is how it works. Many savvy players are, without fanfare, building future riches on the huge opportunities currently abounding. Some, already extremely rich, become even richer out of the many and gigantic opportunities that have arisen from all the asset adjustments going on. The weak, the stupid, the easily frightened and the wagon loads of have-nots as at ET do what they do here - stand around with their mouths agape and their little minds filled with the melodrama of a once-in-a-while bowel convulsion in the rythym of capitalism.
It was a nice call, and I bet, bylow, you were thought of as quite the nut back then. been there, done that. But that's only the beginning. We are at a real crossroads, again, and we have no leadership. None. Nada. Bupkis. They'll be some stupid stopgap in the next few days, then, we'll revisit this again. As an aside, Crist comes out yesterday. Says, Florida pension down 25% and that's not bad. He's probably using 9/30 info. After today, he's probably down 50%. How do you meet the obligations? In Calif? Ma? NY? You can draw your own scenarios. I've drawn mine for months, and months.
Well said. Those who profit from the liquidity of the scared retail trader laugh at their dependence on media and their willingness to play sheep in the game of financial predator and prey. If there is a trader-equivalent to the phrase "no fear" I would like to use it. Not that I'm all that, but I have conquered emotions in my systems and trading... until I try out a new system...
Nor the hundreds of thousands who lied on their mortgages about their income. Thats where the real blame lies. Wall Street was just giving them the rope to hang themselves. No law can be passed that would change human nature.