Industry NewsNews Brief

Mortgage virus hits the rich

From Curbed.com blog
Published on May 22, 2009

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by CareyBot

SAN FRANCISCO -- The "mortgage virus" has hit more expensive homes in San Francisco and the Bay Area -- around this time last year, there were about 12 months' worth of unsold inventory above $1 million on the market.

Whereas the amount of inventory for cheaper homes has gone down over the past year, it's gone up for those $1 million and above, to almost 19 months' worth now.

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