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Bay Area Real Estate Market is Improving

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  Tags: finance   economy   housing   real estate


Background

With various numbers showing more real estate sales, we ask the question: Is the California Bay Area real estate market becoming a better seller's market?
 

Arguments For

Yes, it's heading towards a seller's market

Home prices are up during the 2nd quarter.[1]
Unemployment rate decline may indicate recession has hit bottom.[2]

Arguments Against

No, it's heading towards a buyer's market

Half of US mortgages seen underwater by 2011.[3] The housing bubble continues.[4]

Sources


 1  Home Prices up during 2nd Quarter
 2  Unemployment rate decline may indicate the recession has hit bottom
 3  About half of U.S. mortgages seen underwater by 2011
 4  housing bubble @ patrick.net

User Comments & Opinion

 
33.3%
66.7%

1 Voted Yes

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For now yes. How long? Not sure, but won't be very long. Americans are tired of big government, tired of bubbles, tired of inflation, and tired of broken promises. There is the possibility of foreign investors propping up home prices, but I don't think it's as desirable as some would like to believe. I'll change my vote to no when I see things headed back down. - thorie (twitter) 0

2 Voted No

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Shadow foreclosures will be released by banks eventually when they can no longer afford to continue taking a loss by having them in their inventories. Patience is the key word here. - admin vote up image vote down image +1
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I don't see a recovery until at least 2015, if ever. Just as Yahoo stock was once $108 per share in 1999 and now between $10-$15 per share, it will never "recover" to such inflated and exaggerated prices. Not in my lifetime. - thorie vote up image vote down image 0
 
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