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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (21294)	6/4/2004 1:04:54 AM
From: TraderC	Read Replies (1) \| Respond to of 306849

Lizzie: Yes, we know from you that things must be tough in the heart of Silicon Valley. Maybe you should seriously consider leaving the Valley and work for some other company. I sincerely hope that Google and other tech IPOs may lift you folks out of all the doom and gloom. However, I don't believe that's likely.

To: Lizzie Tudor who wrote (21294)	6/4/2004 1:20:55 AM
From: gpowell	Read Replies (1) \| Respond to of 306849

That's not very recent. Try this - hot off the press: SANTA CLARA, preceding four weeks through 5/18/2004 --------------------Median Price---%Chnge(YOY) All homes-------------$535,000------16.3% Total resale houses---$579,000------17.7% Total condominiums----$375,000------10.3% Total new homes-------$636,250------10.7% Source: San Jose Mercury News

To: Lizzie Tudor who wrote (21294)	6/4/2004 1:21:43 AM
From: GraceZ	Read Replies (1) \| Respond to of 306849

If one is speaking about the "Bay Area" you aren't simply referring to Santa Clara county and SV. There's Alameda, San Mateo, Solana, San Francisco, Marin and so on. Santa Clara County, heart of Silicon Valley, was one of the few places in the state where home median prices declined from the previous month. I rest my case.

To: Lizzie Tudor who wrote (21294)	6/4/2004 1:31:20 AM
From: gpowell	Read Replies (1) \| Respond to of 306849

Don't you think it is little ironic that you began this discussion by disbelieving a real estate report and you are now using another real estate source to support your view? Even the ofheo reported a >5% increase yoy (HPI) in the SF MSA, which is the report you used to make your original case. BTW, the ofheo report indicated a 1% increase in Q12004 for santa clara valley. I do not think anyone is disputing the fact that some segments of the housing market in the Bay Area have lagged equivalent market segments in other areas. But you can't dispute the statistics that show median price is rising, even in the "beleaguered" Bay Area. As has been pointed out here repeatedly, even by you, statistics that span segmented markets can't tell the whole story. For instance, the Mercury News reports one zipcode in Berkeley added 18 percent rise in median price, while the next zip code 2 percent decline.