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Lower risk of home-price decline: STUDY: VALLEY IN BETTER SHAPE THAN OTHER PARTS OF CALIFORNIA.
- Article from:
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San Jose Mercury News (San Jose, CA)
- Article date:
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October 10, 2007
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Copyright informationCOPYRIGHT 2007 San Jose Mercury News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Pete Carey
Oct. 10--An index that charts the risk of home-price declines across the United States is giving Silicon Valley a slightly improved forecast.
The odds Silicon Valley homes will fall in price over the next two years have dropped slightly to 43.3 percent from previous estimates, though the drop isn't big enough to get very excited about.
It remains quite a bit higher than the national average of 32.9 percent for the 50 regions studied by PMI Mortgage Insurance, though less than the risk in swaths of Southern California and the Central Valley.
PMI, a Walnut Creek mortgage insurance company, publishes a quarterly analysis of risk factors ...