Friday, July 29, 2005
Home value declines seen as more likely -- Kelly Zito, San Francisco Chronicle
Home value declines seen as more likely: "Homeowners in much of the Bay Area face a greater than 45 percent chance that their properties will decline in value in the next two years, according to a study by Walnut Creek's PMI Mortgage Insurance.
As soaring home prices drift further away from economic fundamentals such as income growth and rents, there is increasing risk of price corrections, particularly in the least affordable coastal markets, the firm said in its latest U.S. Market Risk Index, which was based on first-quarter 2005 data."
As soaring home prices drift further away from economic fundamentals such as income growth and rents, there is increasing risk of price corrections, particularly in the least affordable coastal markets, the firm said in its latest U.S. Market Risk Index, which was based on first-quarter 2005 data."
