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Morning Mortgage Meltdown: Prices Sink Yet Again

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Yes, down down down. But compared with other major California markets, San Francisco's home values are actually faring decently: prices declined 0.7% from the second quarter of this year, compared with 3.0% in the same period in 2007, and much bigger drops in LA and San Diego. The average "luxury" home in SF is now $2.99 million. [MarketWatch]