| Mercury News: "The current buyer frenzy has several ingredients: interest rates kept low by the Federal Reserve; a low inventory of homes for sale; high rents relative to home prices; rising incomes and job security; and investors and others paying cash for low-end houses and condominiums." "At $564,250, the median sales price of an existing single-family Bay Area home in May was 23 percent below its 2007 peak of $738,500 just before the crash, according to DataQuick." "The Peninsula & South Bay have regained most of their post-bubble losses, while Contra Costa & Alameda counties have a long way to go." Innerestin' times! |
