USA And The Future Of The World

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<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Houses cheaper than cars in Detroit <!--QuoteEnd--><!--QuoteEEnd-->
All due to Ford and Chrysler layoff/ restructuring. Now workers are moving to Ohio, TN, and Kentucky.
Lot of people made mistake, they were thinking that property will appreciate, but hey it went south. Lot of people bought multiple houses and now they can't sell and now can’t afford multiple mortgages.
Hongkong also went through same cycle in mid 90s.



Check this , median price is still $2.2 million in Silicon Valley, and going up.
Los Altos, CA Real Estate Market Snapshot
updated Tuesday, March 27, 2007
Listing Type Number <b>Median Price Price Change from Feb </b>
Homes for Sale (MLS) <b>47 $2,218,000 +11.2% </b>
New Homes 0 n/a n/a
Real Estate Classifieds 82 $2,380,000 +3.6%
Foreclosures 13 $612,528<b> +30.7%</b>

California Real Estate Market Snapshot
updated Tuesday, March 27, 2007
Listing Type Number<b> Median Price Price Change from Feb </b>
Homes for Sale (MLS) 214,730 <b>$495,000 </b> <span style='color:red'>-0.8%
New Homes 5,042 $474,900 +1.0%
Real Estate Classifieds 110,425 $505,000 +1.0%
Foreclosures 63,869 $304,000 +<b>6.4% </b></span>