[quote=patientrenter]Trillions of dollars are being poured into the mortgage loan market, so it’s hardly surprising that it has an impact, some places more than others. I still think even Berkeley prices will decline.[/quote]

Patientrenter: I was visiting a client up in East Bay in February and stayed a couple of nights in Livermore. I spent the two evenings there nosing around and checking out real estate prices. Livermore is one of the areas in the East Bay that is getting absolutely decimated in terms of price drops. I’ve read articles on SFGate (online SF Chronicle) about houses in Oakland that have dropped 80% and 50% drops in places like American Canyon and Tracy.

Berkeley will follow, as will “The Fortress” (Sunnyvale, Mountain View, Cupertino, etc).