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Housing's Head and Shoulders

Bay Area real estate price are forming a classic "head and shoulders" formation. Home buyers and sellers should carefully consider their actions. Home prices have begun the next phase of their decline.

Home prices are in the process of reverting to pre-bubble levels. The longer it takes to get there, the longer it will be before any real recovery can begin. So how long will it take? If it weren't for Uncle Sam, we would probably have already hit bottom and be looking back up by now.

Bay Area Home Price Illustration with Case-Shiller Data

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