Comments on: Case-Shiller: Bay Area Home Prices Tick Up Slightly March to April http://blog.redfin.com/sfbay/2009/06/case-shiller_bay_area_home_prices_tick_up_slightly_march_to_april.html Redfin Bay Area Sweet Digs Fri, 20 Nov 2009 12:03:22 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: Decker http://blog.redfin.com/sfbay/2009/06/case-shiller_bay_area_home_prices_tick_up_slightly_march_to_april.html/comment-page-1#comment-8956 Decker Tue, 07 Jul 2009 17:50:18 +0000 http://blog.redfin.com/sfbay/?p=6374#comment-8956 You can do more than doubt it, there's no question the bottom is ahead. See this from Bloomberg. http://www.bloomberg.com/apps/news?pid=20601213&sid=aEwbzPfaEGw8 Home prices may fall in more than half of the largest U.S. cities through the first quarter of 2011 as unemployment and foreclosures rise, mortgage insurer PMI Group Inc. said. Thirty of the 50 biggest metropolitan areas have at least a 75 percent chance of lower prices through March 31, 2011, Walnut Creek, California-based PMI said in a report today. The decline is likely to spread to “all regions of the nation” from California, Florida, Nevada and Arizona, the states most affected by the housing slump, PMI said. [...] The 15 areas with the highest probability of lower prices in 2011 each have a 99 percent chance, PMI said. They include [...] Riverside, Los Angeles, Santa Ana, Sacramento and San Diego in California. [...] The probability of lower prices is 66 percent in the San Francisco area. The insurer [PMI] compiles its “market risk” index from income, interest-rate, home-price and affordability data going back to the early 1980s. To contact the reporter on this story: Dan Levy in San Francisco at dlevy13@bloomberg.net You can do more than doubt it, there’s no question the bottom is ahead. See this from Bloomberg.
http://www.bloomberg.com/apps/news?pid=20601213&sid=aEwbzPfaEGw8

Home prices may fall in more than half of the largest U.S. cities through the first quarter of 2011 as unemployment and foreclosures rise, mortgage insurer PMI Group Inc. said.

Thirty of the 50 biggest metropolitan areas have at least a 75 percent chance of lower prices through March 31, 2011, Walnut Creek, California-based PMI said in a report today. The decline is likely to spread to “all regions of the nation” from California, Florida, Nevada and Arizona, the states most affected by the housing slump, PMI said.
[...]
The 15 areas with the highest probability of lower prices in 2011 each have a 99 percent chance, PMI said. They include [...] Riverside, Los Angeles, Santa Ana, Sacramento and San Diego in California. [...] The probability of lower prices is 66 percent in the San Francisco area.

The insurer [PMI] compiles its “market risk” index from income, interest-rate, home-price and affordability data going back to the early 1980s.

To contact the reporter on this story: Dan Levy in San Francisco at dlevy13@bloomberg.net

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