There's no place like home in Silicon Valley

Article Abstract:

The housing market in the nine-county, technology concern-rich Bay area in California is experiencing a severe supply-demand imbalance where developers can dictate prices. Many developers in this area, which is popularly known as Silicon Valley, have started lotteries and, increasingly, resorted to sealed bids to decide the lucky few who will get the relatively small number of new houses being constructed. The lack of inventory is making houses less affordable and presenting hopeful home buyers with very limited choices.

Market information - general

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Long-term fixed mortgage rate slithers below 8%

Article Abstract:

Long-term mortgage rates have declined below 8% for the first time since Dec 25, 1999. An economist for the Federal Home Loan Mortgage Corp said that lower mortgage rates reflect bond investors' optimism that inflation will stay low. Analysts say, however, that the downward trend in mortgage rates are not likely to boost a hyperactive US housing market to the record levels reported in 1999 because higher home prices are offsetting lower borrowing costs.

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First time buying a home? Good luck, in this market: Skyrocketing prices in large areas make dream seem unreal

Article Abstract:

The barriers faced by first time buyers in Boston, New York, Miami and Honolulu in sky-high housing markets in the year 2003 are presented. In Southern California, the rapid run-up in prices is forcing tough choices for close-in renters who aspire to own a home.

Forecasts, trends, outlooks, Housing incl Mobile Homes, Prices and rates, Forecasts and trends, Housing, Market trend/market analysis, Dwellings, Apartments, Company pricing policy

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