we may be about to see an ugly real estate squeeze in the mid peninsula. not downwards, but upwards. experts have called a 50% price decline, 30% decline, 10% decline, flat, 10% gain. no one has predicted a >50% gain, which means this is the most likely scenario.
the inventory is miniscule. every smart person i know is waiting for prices to fall. which means the exact opposite is going to occur.
london has doubled in 6 months despite calls for pricing collapse. NY boom has started. there are signs everywhere that bay area prices are poised to make a historic run upwards.
headlines are focused on bubbles and subprimes, etc.