“Fed Cut the Rate! Seatbelts, please…”


From a reader (not Boomtime, not MarinaPrime, not me, not any of the other bulls…), verbatim: “Fed Cut the Rate! Seatbelts, please… * FED CUTS FEDERAL FUNDS RATE HALF POINT TO 4.75% * FED CUTS DISCOUNT RATE HALF POINT TO 5.25% * Yield curve steepened dramatically as the 2Y went from 4.13% to less than … Continue reading “Fed Cut the Rate! Seatbelts, please…”

San Francisco Foreclosures UP!!!!!


Yup, it’s true. Foreclosures in San Francisco are up from a whopping 62 63 notices in 2006 to 65 in 2007, or 3%. Dave, it looks like you were one of a very few to get your hands on a foreclosure in San Francisco. Hats off to you. We anxiously await the story. As always, … Continue reading San Francisco Foreclosures UP!!!!!

Bay Area sales volume down 9.8%, median price up 6.9%


“In the Bay Area, the [California Association of Realtors] said sales volume was down 9.8 percent from last year, while the median price was $841,660, up 6.9 percent from $787,540 last July.” –Home sales still weak in California and throughout the country [sfgate]

Keep pumping the bull shit, and the public will likely keep buying it


…and the downward spiral will continue until everyone forgets about it. We’re not denying the real estate market has/is experiencing a bit of a shake up, but all the “sky is falling” reporting is getting a bit tiring, and in no way an entirely accurate representation of the San Francisco real estate market. Don’t call … Continue reading Keep pumping the bull shit, and the public will likely keep buying it

A better comparison to our high end market performance


Damion Matthews kindly forwarded us this article, and added, “even though it’s about the New York market, I tend to feel we have more in common with that than we do the rest of the Bay Area.” We would tend to agree. From the article: ‘I’ve been doing this 20 years… I’ve never seen anything … Continue reading A better comparison to our high end market performance