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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Peter V who wrote (106044)2/21/2008 8:03:39 PM
From: Lizzie TudorRead Replies (3) of 306849
 
well Santa Monica sounds exactly like this area. We have fallen from the absolute peak, no question. And we took another mini hit this month and last for the subprime meltdown. But generally, not much in the way of damage to these markets.

I keep hearing these are the last to fall, and I am thinking if we don't get a real hit in the next few months, this is it, seriously.

What we have here in the Northern Ca area is:
SF, and desirable parts of silicon valley: down about 15% from absolute peak (if that)
Sacramento: down 50%
Mountain House and other places in the middle of nowhere, down 80% yes thats right, 80%.

the point being, we are in the middle of this, not the beginning. Many locales are crushed. At some point you have to accept that the majority of damage has been done.
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