I spent the long weekend at the California State Square Dance Convention in Sacramento. Beautiful weather,(thanks to the recent cold snap) wonderful people from all over the state and adjoining states, and lots of dancing. It was a change for me to meet all kinds of new friends, and have the subject of real estate never come up.
I did see many "for sale" signs whenever we happened to drive through any residential neighborhood. Property values have gone down considerably in the Sacramento area.
Coming back to the Bay area, we drove past Tracy and some other hard-hit communities, where people had been willing to face a long, miserable commute in order to buy a larger and newer home. Now they are faced with the double whammy of a declining real estate market and escalating gas prices. Ouch!
There's no place like home.
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