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Originally found via www.viewfromsiliconvalley.com
http://www.mercurynews.com/business/...nclick_check=1
20090505_102101_ssjm0506zillow90.jpg
Notice the clear downtrend in prices from Q1 to Q4 in the past several years.
Unless there is a DRAMATIC shift in behavior - the present very small overall losses merely indicates the possibility of smaller series of losses vs. last year.
But that still could mean full year losses of $17B for 2009 (vs. full year loss of $3B for 2007 and $56.9B for 2008) and a 2009 Q4 loss of $15B (vs. $15B in 2007 and $30B in 2008).
All numbers refer to Santa Clara county housing net worth - presently in the neighborhood of $350B (460K properties with average value $766K).
Average price data probably as of mid 2008 or late 2007 as median prices as of December 2008 was lower than in Realtor.com profile. Thus present total Santa Clara county net housing worth is possibly under $300B.
http://www.realtor.com/property-sear...lara-County_CA
http://sanjose.bizjournals.com/sanjo...0/daily88.html
http://www.mercurynews.com/business/...nclick_check=1
20090505_102101_ssjm0506zillow90.jpg
Notice the clear downtrend in prices from Q1 to Q4 in the past several years.
Unless there is a DRAMATIC shift in behavior - the present very small overall losses merely indicates the possibility of smaller series of losses vs. last year.
But that still could mean full year losses of $17B for 2009 (vs. full year loss of $3B for 2007 and $56.9B for 2008) and a 2009 Q4 loss of $15B (vs. $15B in 2007 and $30B in 2008).
All numbers refer to Santa Clara county housing net worth - presently in the neighborhood of $350B (460K properties with average value $766K).
Average price data probably as of mid 2008 or late 2007 as median prices as of December 2008 was lower than in Realtor.com profile. Thus present total Santa Clara county net housing worth is possibly under $300B.
http://www.realtor.com/property-sear...lara-County_CA
http://sanjose.bizjournals.com/sanjo...0/daily88.html