Thursday, January 22, 2009

Recession Follies: New Home Figures

By Chris Thompson
Thu, Jan 22, 2009 at 8:44 AM

The real estate firm MDA DataQuick has released new numbers for the housing market, and it's more of the same. The median value for a Bay Area home is now $330,000, down from its peak at $665,000 in the summer of 2007. And foreclosures accounted for roughly half of all sales in December. The Chron profiles one man who bought an Oakland rental triplex for $106,000; the property was once worth $557,600. Times have changed.

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