People lose their jobs, have medical emergencies, get divorced, pass away or make bad money decisions at a certain rate. Because of the rise in home values, much of that financial distress has been covered by the increasing amount of equity that people have had in their homes.
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Because of the rise in home values, much of that financial distress has been covered by the increasing amount of equity that people have had in their homes. That equity is now being created at a slower pace, and default activity is inevitably on the rise.Marshall Prentice
Trends in January and February are notoriously bad at predicting upcoming activity. Is the market taking a breather Or is it starting to tumble It's impossible to say, there's nothing really ominous in the numbers, but we won't know for another couple of months.
Marshall Prentice
Today's Bay Area real estate market has all the characteristics of a relatively normal balanced market. We knew the year-ago numbers were unsustainably strong. Right now it looks like current trends will last well into 2006, with strong, but not record-breaking sales, and continued appreciation.
Marshall Prentice
It's numbers like these that both bubble-theorists and market cheerleaders can pounce on to make their points. Reality is more mundane.
Marshall Prentice
March numbers are pretty good at predicting upcoming activity. We figure that sales will be good but not spectacular on into the summer and that price increases will stay below 10 percent. We'll probably have a couple of months with new price peaks, but those new records will be reached at a slower rate of appreciation.
Marshall Prentice
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