patrick.net

Like many of you here I have been waiting for the prices in the bay area to come falling back to earth. Over the past year, the things that I'm seeing make me believe that a huge correction will no longer happen and the prices in most area's have already corrected themselves.

The main reason why the Bay Area was spared from the large housing crash seems to come from the fact that the great recession didn't hit us as hard as other places. This let people keep their jobs and save money. Now as the U.S. is coming out of this recession, the stock market is rising, and people in the Bay Area didn't get scared of investing in housing because there was no major housing crash. We might get a good rise in housing prices. The last example that turned my opinion around is the amount of homes for sale in santa clara county. The inventory is half of what it used to be last year and it seems like the inventory that comes onto the market is quickly bought up. What do you guys think?

#housing