Foreclosures in your neighborhood?

Sunday, July 13, 2008 by Dave Winer.

Next week the financial crisis in the US reaches a new level with a major bank failure and two others being bailed out.  

There's lots of macro news, but what about your neighborhood? Are people losing their homes? Many For Sale signs? If so, are they selling? How do you feel about your investment in your home, in your town? We don't talk much about this in the tech blogosophere, life here pretty much goes on as it always has, but I'm wondering if underneath that, there's lots that's changing.  

As far as my neighborhood, North Berkeley, goes -- I bought my house at the absolute peak of the market. According to zillow.com my house has dropped 10 percent in 2 years. A pretty terrible investment from that point of view (I love the house and the neighborhood, so I'm happy). Even though property values are dropping fast, there aren't many For Sale signs, and when they appear, they sell quickly. There don't appear to be any foreclosures, all houses are being maintained as far as I can see. So the crisis hasn't hit the East Bay yet, even though I hear other parts of California are being hit hard. 

Update #1: Follow the discussion on FF. 

Update #2: This blog is focusing on the mortgage meltdown.