<p>So far the “crash” predicted has not happened in the SF market. At worst we have seen around a 10% correction which is what I believed would happen even before the mortgage problems which made things much worse than they might have been. A 10% drop after leaps of around 50% on average is not much and nowhere near the 30-40% drops some were predicting. The entire Pacific NW still has had gains at a good clip. Mortgage rates for good credit people have come down significantly which should get some of the sluggish areas moving a bit. The excess inventory in a few areas is being worked down and many now think the worse is over or nearly so. So that was the worse? In my opinion not that bad. Only the last in and speculators got hurt which is fine with me. And happens in every type of market.<br>
As to Boston the annual decline was under 4% and maybe a total of double that over the last two years. Hardly a horrible loss in an area that saw growth of around 60-70% in the prior 5 years.</p>
<p><a href=“http://seattlepi.nwsource.com/local/333067_housing26.html[/url]”>http://seattlepi.nwsource.com/local/333067_housing26.html</a></p>
<p>Boston 171.30 -3.7%</p>
<p>Note date on article below. If you listened you are smart.</p>
<p><a href=“http://www.boston.com/business/markets/articles/2004/07/01/home_prices_poised_to_take_a_hit/[/url]”>http://www.boston.com/business/markets/articles/2004/07/01/home_prices_poised_to_take_a_hit/</a></p>
<p>On a personal note I just lost out on a house in Lynchburg where I bid over the asking price the second day on the market. It sold to another party because the seller did not want to sell to an investor. I was very unhappy but understand their position.</p>