Real Estate In San Francisco & Oakland Seems To Be "Hanging In There"

Recently read an article in the New York Times about the Bay Area real estate market, more specifically San Francisco and Oakland.  The article mentioned how these two cities, compared to much of the nation, have barely been affected by market downturn.  The article states: "The region’s two big bayfront cities are not experiencing the same sharp pain, though there has been some softening in the market. Home prices in San Francisco are roughly the same as they were last year. In Oakland, single-family homes are selling at 10 percent below the 2007 market, and a sudden arrival of new downtown condominiums on the market has lowered prices in that sector 20 percent and more."  Many projects that are either being built or being planned within these two cities are highlighted to show the progress that is still being made.  Definitely a great read about a market that seems to be staying afloat while everybody else is sinking.

Article: http://www.nytimes.com/2008/10/01/business/01bay.html?pagewanted=1&ref=business