Alameda County increasing while SF and the peninsula are flat to down should be ringing very loud alarm bells in people's heads. Alameda County is not a sophisticated buyers market. This same county was hit hardest and had the most foreclosures in 2008. Peak prices for this cycle folks. This is your loud and clear indicator.
The folks paying these peak prices do not seem to match the historic demographics of their new neighborhoods. While I agree we’re near the peak, I’m not sure that Alameda is the proverbial canary in the coal mine here.
Gold Coast homes selling at 20% off list (if they sell). Socketsite has a great example. Alameda has peaked and you're screwed if you bought there in the last 5 years.
