The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (52024)	4/13/2006 2:44:17 PM
From: CalculatedRisk	Read Replies (3) of 306849

State's housing market retreats Slowdown threatens to jostle East Bay as construction jobs have become crucial part of economy siliconvalley.com The housing market in California has fallen into a visible slump, and the downturn could erode economic expansion in fast-growing regions such as the East Bay, economists warned Wednesday. Existing home sales have skidded, houses now languish on the market for longer periods, and the rate of home building has slowed, according to the report issued by Wells Fargo Bank. Real estate agents in the East Bay said the market was returning to more normal conditions from a hot pace that could not be sustained indefinitely. Nevertheless, the Wells Fargo economic study warned of a chill for real estate. "California housing market conditions have noticeably deteriorated since September," Scott Anderson, Wells Fargo senior economist, wrote in his report. <MORE>

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