5014 homes and condos traded hands in the 9 county Bay Area in September. That’s down 40% from last September and the weakest September on record in DataQuick’s database, which goes back to 1988.
Interestingly, prices seem to be holding up in the Bay Area in contrast to the rest of California (DataQuick Press Release).
Even though prices are holding up, though, this is bad news for Bay Area mortgage brokers, realtors, loan officers, etc…
The Wall Street Journal today published an editorial, “The House the Fed Built” (subscription required), echoing the interpretation of recent Fed history I posted a couple weeks ago: This is the housing market the Federal Reserve built. That is to say,…
A couple weeks ago DataQuick, the excellent real estate information firm providing data primarily for the California market, came out with its July 2006 numbers. The Sacramento Bee ran a sobering article based on the report: July … saw the biggest drop…
A little more than three weeks ago (Fri Sept 8th) Standard Pacific Homes (NYSE: SPF), a home builder with substantial exposure to the California market (see pg. 11 of their 2005 annual report which shows all the markets they operate in and…
A starting point for becoming knowledgeable about business and finance is simply to read The Wall Street Journal everyday. If you just do that, you’ll find your knowledge and understanding growing all the time and you’ll be way ahead of…
I don’t want to be too sophisticated here, but 2007 is going to suck, all 12 months of the calendar year. Our future is not as bright as we would like it to be. – D.R. Horton CEO Donald Tomnitz,…
Today was an interesting day in the markets. The key event was the release at 10am EST by the Commerce Department of the report for February New Home Sales. The report said that new homes sold at a seasonally adjusted…