[FoRK] A Generalized Meltdown of Financial Institution

[J. Andrew Rogers]

On Nov 25, 2007, at 8:06 AM, Sat N wrote:
> Very interesting - I keep hearing about this "housing crash" in
> California, but my friends in bay area aren't really seeing it....Has
> any of you in bay area seen a housing crash in your neighborhood -
> have the prices really went down 12% ?


The market definitely seems softer, taken from people I know who are  
both buying and selling right now.  I don't know about a 12% drop, but  
a 7% drop from the peak seems about right anecdotally.

In any case, it is not that big of a deal unless you are flipping  
houses or mortgaged up to your neck.

Cheers,

J. Andrew Rogers