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Housing Price Corrections in the Bay Area

Chad. . .fellow commenters. . .here is the question. . . the TARP and historically low interest rates will benefit who? People with FICO scores above 750. . .with the amassing of credit by consumers, the loss of jobs, cutting of credit lines, houses underwater, and foreclosures, won't these interest rates be of benefit to the few?

Also does anyone have an analysis of "jobs" lost versus "unemployment". . .sometimes these "jobs" are unfilled jobs and not people.

Similar to Bob Toll's comment that the real number of new home sales (minus cancellations) will be around 310,000 not the 433,000 widely reported

Housing Price Corrections in the Bay Area

We saw this cycle of ebb and flow in the mid-90s housing malaise and have seen it again since 2005 in the Sacramento region, with Yuba/Sutter, Galt, Wheatland, Winters, rapidly declining in price as Roseville, Folsom, and Sacramento County housing repriced . . .the new factor here is foreclosures which are driving prices below 2003 levels. Bought my first house in 91. . .it lost value until 1998 then rose slightly until 03 . . .shoot up like a rocket in 04/05 and has fallen back to earth in pieces since August 05 the peak