The Case-Shiller Index continues to document the decline in Bay Area home prices. Looking at the graph above you can see that our $600,000 home fell to $330,787 in February, from $341,613 just one month ago in January.
Taking a look at the Chicago Mercantile Exchange futures on the index, they continue to predict that we'll be below $300,000 by September.
Given the fact that the markets continue to predict that housing prices will decline, and we're about to have a tsunami of foreclosures hitting the market, buying this spring is risky indeed.
I don't think risky is the word I would use.
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