Silicon Valley home values plunge at record pace; 20 percent of homes are 'underwater' - San Jose Mercury News

Silicon Valley home values plunge at record pace; 20 percent of homes are 'underwater' - San Jose Mercury News: "Against a backdrop of dire economic news and a crumbling stock market, home values in the San Jose metropolitan area dropped more steeply in the fourth quarter of 2008 than anytime in at least 12 years. The decline left nearly one in five of all homeowners 'underwater,' owing more on their mortgages than their homes would likely fetch in a sale."