One of the aspects of a housing downturn that is particularly nefarious is that real estate can be very illiquid in a down market.
http://www.sfgate.com/cgi-bin/articl.../MN8RV2K0E.DTL
2,312 homes sold. Wow. There are many significant numbers bandied about in this article, but this is 2312 for the entire Bay Area. According to wiki "As of the 2006 census, there were 6,927,555 people residing in the Bay Area."
2312 in one month. Yikes. Something tells me February numbers are going to be even worse. Looks like there are tons of bagholders and few knifecatchers there nowadays.
Off-topic: I've noticed Sean O'Toole being quoted in some MSM articles. Good for him! Good to see a voice of reason being reported to the masses.
http://www.sfgate.com/cgi-bin/articl.../MN8RV2K0E.DTL
A total of 2,312 resale homes sold in the nine-county Bay Area in January, down 43.7 percent from a year ago and 24.2 percent from December, according to DataQuick Information Systems. It's the lowest regional sales total in the two decades the La Jolla research firm has tracked the area and the 38th straight month of declines.
2312 in one month. Yikes. Something tells me February numbers are going to be even worse. Looks like there are tons of bagholders and few knifecatchers there nowadays.
Off-topic: I've noticed Sean O'Toole being quoted in some MSM articles. Good for him! Good to see a voice of reason being reported to the masses.
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