Asked by Jay Strike, New York, NY • Sat Oct 11, 2008
This should be required reading for all Palo Alto area realtors. Read it and weep, this area's gonna tank just like the others and you're all gonna be flipping burgers soon. Losers!
. Vicky, are we talking about the same Santa Clara county?
I know bay area quite will having lived here for a long time. Bay area is NOT different wrt real estate. It goes up and down with the tech jobs.
Regarding matthew's points,
1) You have the most to lose if you buy now at the still near peak values in Palo Alto. Wait for a year. Bargains can be had. Be ready with cash.
2) Tech companies have just started layoffs. Look for a string of layoffs in the next couple of quarters. This will depress prices close to 2001 levels.
3) Realtors say they don't have a crystal ball only when the prices are going down. When prices are going up, they are always ready with a crystal ball predicting prices will be even higher if you wai
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