From the Stockton Record:
TrendGraphix said the median sales price fell from $190,000 in October to $175,000 last month in San Joaquin County. That compares with a $200,000 sales mark in January 2002, when TrendGraphix began tracking sales as the market was well into the start of a six-year boom.
That’s a whopping $250,000 price cut from […]

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12/14: Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession.

Watch CBS Videos Online
 
 
Originally posted here.

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Take what you like and leave the rest behind…

Dec 11th: CNBC Squawk Box - Part 1

CNBC Squawk Box - Part 2

 
 
Originally posted here.

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VIDEO - 12-10-2008Ron Paul speaks the truth.We are on a downward spiral of Nationalization of all our industries.

And this from Lee Iacocca in 2007
Where Have All The Leaders Gone?”
Excerpted from Where Have All the Leaders Gone?. Copyright © 2007 by Lee Iacocca. All rights reserved.
Had Enough?
Am I the only guy in this country […]

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From the Sacramento Bee:
You would think people with mortgage problems have enough trouble. But rogues in real estate always find new ways to inflict more. Last year it was foreclosure rescue schemes that robbed desperate people of their homes. Now, it’s loan-modification firms taking cash advances from struggling borrowers and disappearing.
Home Front has heard countless […]

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8 really, really scary predictions by Fortune Magazine - snip:
Dow 4,000. Food shortages. A bubble in Treasury notes. Fortune spoke to eight of the market’s sharpest thinkers and what they had to say about the future is frightening… We are in the middle of a very severe recession that’s going to continue through all of […]

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From the Sacramento Real Estate blog:
Prices have fallen yet again…Sacramento county is now at $122.69 a square foot, a drop of 34.3% over last November…Median price has also fallen for the same period - here we see a fall of 40.3% year over year. Median price last November was $293,000 and is currently $175,000.
From Sacramento-based […]

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Source: BLS
In the 1990s, Sacramento home prices did not bottom out until well after the unemployment rate had peaked (3-4 years). Will we see a similar pattern this time around, or is this a completely different animal?
Originally posted here.

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From the Stockton Record:
Question: It’s been the slowest year yet for home builders. When do you anticipate that the market will hit bottom?
Answer [Gregory Paquin, president, Gregory Group]: It is our expectation that the Central Valley will hit bottom during 2009 and begin to see the signs of recovery in 2010 and 2011, although some […]

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Post off-topic links, observations, and stories about the Sacramento real estate market here. Please read the comment policy before posting.
Originally posted here.

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