For the real victims of the mortgage fiasco, those who were responsible with their money and lived within their means, there may be a glimmer of hope. Check out this link from Craigslist which searches the East Bay area for real estate for sale with the word foreclosure in the description. You get a pretty healthy return. And if you drill it down to Antioch or Pittsburg then you start to see downright bargains. Now no one who commutes to SF for work would ever consider those 2 places but the point is that it used to be far out Sacramento, Fairfield and Vacaville “suffering” huge housing price declines. It appears the wave of value loss is moving west and starting to penetrate even the traditionally impregnable Bay Area.
Are we recommending buying a home? Probably not, but the tunnel is no longer pitch black.
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