Home › Forums › Housing › 16% decline expected in California in 2008 › “California is a big state
“California is a big state with a lot of people. So wtf does the article have to say?”
It says “A U.S. Conference of Mayors report predicted a 16% decline for California home prices in 2008.”
And you’re wrong about SF:
Here’s the last 6 months of data as a percentage of 2000 from Case Schiller, all DOWN:
April 2007 211.47 May 2007 210.89 June 2007 209.48 July 2007 208.64 August 2007 208.15 September 2007 206.46
SF has had a NET 5% decrease since May of 2006. It may not be much, but there goes the Super City theory.
By 2009 I expect a NET drop from the peak of 25-30%. There will be ups and downs the whole way, but it will continue for at least 5 more years.
