Bay housing prices fall .8 percent,
Bay Area housing prices are finally falling, declining last month for the first time in more than four years.
This means that every buyer desparately trying to “get into something” before prices go up even further is going to take a new look around. It means that every seller holding out for that offer “over asking” is going to realize they need to get out.
Even more, it means that all the speculators will understand the party is over, and it’s time to bail. And, finally, the landlords with “negative cash flow” but thinking they’re making up for it with appreciation have to face it that they’re really just losing money. Not to mention all the people who are “over their heads” with mortgage payments they can’t keep up with.