What are good investment vehicles to use to make money off of a
*decrease* in residential home prices in the San Francisco Bay Area?

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Clarification of Question by mattheweccleston-ga on 06 Apr 2004 13:51 PDT

That's a reasonable suggestion, but the one you pointed to seems to be
focused on commercial (and rental) properties, which aren't nearly as
IMO overvalued as the residential sector in the Bay Area.  I've read
that PMI (Personal Mortgage insurance) providers are pretty exposed to
residental fluctuations in price, although they've taken a beating
recently for other reasons, finding one concentrated in the Bay Area
might be the best starting point.

I would look at REITs (real estate investment trusts) that invest/own
property in the bay area.  Some REITs are publicly traded, in such
instances, you can short them or buy put options on them.

i found one that might be of interest, but i'm sure there are others....
http://finance.yahoo.com/q/pr?s=MSW