Initially San Francisco and the Bay Area market seemed to be immune to the financial meltdown resulting from the mortgage crisis. After all, the City and its accompanying affluent suburbs had not suffered drastic drops in home prices as seen in many other regions of the country. Yet as the mortgage crisis has snowballed into a complete meltdown of the worldwide financial system, the poster child of the ‘new economy’ now appears less and less immune from the turmoil dominating our news headlines.
The region that consists of the City by the Bay and the adjacent Silicon Valley is no stranger to drastic market corrections. read more »