Thanks for all the answers. Keep them coming. For now, I have decided that the prices will come down in Cupertino pretty soon and so am going to wait for that to happen. I am not buying a condo for 1 million in this market(especially since I have lost 30% of my small portfolio in the bloodbath).
One thing though - if prices indeed drop 15-20% I wonder if people will want to sell or just hold on waiting for prices to go back up. Though I guess builders would need to get rid of their excess inventory so they may be open to a bigger price cut? - Mon Sep 29 2008, 13:52
Thanks for all the responses. John's pcture is ideal - prices will fall sufficiently so we can buy a big SFH in Cupertino for under a million in a couple of years. I would like to believe that will happen. But I am worried it is wishful thinking. What does everyone else think? Will prices fall 20-30% in the next couple of years in the South Bay (the good areas which have kept going up while the rest of the market tanked). - Fri Sep 26 2008, 09:14
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