More: We have reached the bottom.

3 Oceans is claiming the real estate bottom to add to the echo coming from the OC and LA. So we got North and Southern California covered. How about the rest of the country:-)

Seriously they mention some key points about why the real estate market is at the bottom in the Bay area:

1. The Rich affect. One out of every 10,000 American families has an annual income greater than $10.7 million, according to two university professors who study the super-rich.  By their tally, there are some 15,000 Americans who fit into that category.
2. Jobs-The Bay area tech sector has grown in jobs and Santa Clara County residents earn nearly double the nation’s average weekly wage and surpassed Manhattan as the county whose residents take home the largest paycheck.

Kevin Boer declares the bottom here.