I am not familiar with bay area. Appreciation is really depended on location. If you are confident about this, go for it. If you have any uncertainty in mind, think again. (Can you sleep well if house is empty for months?)
One thing I want to point out: Housing market is about three years lagging stock market. I expect it will bottom around 2011. It is naturally due to purchase ability (income). Most people buy house with mortgage. It requires good income to get loan. Income will pick up one/two years after down turn. It is also location dependent. Bay area could recover earlier. You should know better.
One thing I want to point out: Housing market is about three years lagging stock market. I expect it will bottom around 2011. It is naturally due to purchase ability (income). Most people buy house with mortgage. It requires good income to get loan. Income will pick up one/two years after down turn. It is also location dependent. Bay area could recover earlier. You should know better.
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