Mortgage virus hits the rich

From blog

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.