Forbes.com http://bit.ly/zz76M
It is interesting to note that Economy.com forecast 10%+ decline toward 2010. Considering there so many home owners with negative equity and unemployment is still increasing, I tend to agree with their forecast toward 2010.
It is also interesting to note that:
- In former bubble areas such as Phoenix, Las Vegas and Florida cities, 30%+ home owners carry negative equity and economy is quite bad. Therefore home price will continue to decline toward 2012 but it will NOT rebound toward 2014.
- BUT in major job centers such as Seattle, San Francisco, San Jose, San Diego and Boston, there are solid job market and high-income consumers. Therefore, Economy.com forecast 20-30% home price appreciation toward 2014.
Anyhow, I recommend that you treat this kind of data as "reference only" ince real estate markets depends on locations, school district, etc...
Happy Investing!!!!
| Metropolitan Area | 1 Year, 09 | 3 Year, 09-12 | 5 Year, 09-14 |
| San Antonio, Texas | 0.49% | -1.63% | -0.57% |
| Austin, Texas | 0.29% | -1.54% | -1.01% |
| Dallas, Texas | -0.11% | 0.50% | 2.81% |
| Indianapolis, Ind. | -0.53% | 2.25% | 8% |
| Kansas City, Mo. | -1.20% | 0.41% | 5.53% |
| Pittsburgh, Pa. | -1.59% | 8.47% | 22.10% |
| Houston, Texas | -2.10% | 0.47% | 2.40% |
| St. Louis, Mo. | -3.27% | 0.61% | 5.20% |
| Columbus, Ohio | -5.89% | 4.62% | 16.11% |
| Virginia Beach, Va. | -6.92% | -10.75% | -6.25% |
| Nashville, Tenn. | -7.38% | -1.25% | 3.20% |
| Milwaukee, Wis. | -7.56% | -1.94% | 0.99% |
| Charlotte, N.C. | -8.15% | 3.54% | 12.20% |
| Denver, Colo. | -8.69% | -1.05% | 11.20% |
| Cincinnati, Ohio | -9.31% | 3.98% | 16.10% |
| Philadelphia, Pa. | -9.42% | 1.61% | 13.73% |
| Cleveland, Ohio | -9.44% | 4.73% | 18.67% |
| Boston, Ma. | -9.75% | 4.48% | 20.44% |
| Providence, R.I. | -12.57% | 0.43% | 11.71% |
| Portland, Ore. | -13% | 3.10% | 13.69% |
| New York NY | -13.08% | -11.86% | 4.29% |
| Baltimore, Md. | -13.32% | -3.33% | 9.22% |
| Seattle, Wash. | -14.86% | 15.48% | 30.98% |
| Atlanta, Ga. | -14.91% | 0.98% | 11.35% |
| Chicago IL | -16.31% | 1.49% | 14% |
| Washington, D.C. | -17.05% | -3.77% | 9.98% |
| Jacksonville, Fla. | -18.51% | -15.24% | -1.01% |
| Detroit, Mich. | -19.35% | 3.94% | 19.96% |
| San Diego, Calif. | -19.37% | 12.80% | 25.41% |
| Los Angeles, Calif. | -21.22% | 2.94% | 12.36% |
| Sacramento, Calif. | -21.43% | 6.79% | 12.87% |
| Minneapolis, Minn. | -23.01% | 1.76% | 16.05% |
| San Francisco, Calif. | -23.42% | 12.12% | 26.51% |
| Tampa, Fla. | -24.71% | -14.69% | 6.66% |
| San Jose, Calif. | -25.14% | 8.41% | 23.04% |
| Riverside, Calif. | -28.12% | -0.45% | 11.07% |
| Orlando, Fla. | -29.84% | -22.39% | -3.58% |
| Miami, Fla. | -30.35% | -23% | -2.93% |
| Las Vegas, Nev. | -31.61% | -19.53% | 3.53% |
| Phoenix, Ariz. | -34.72% | -17.96% | 7.44% |
It is interesting to note that Economy.com forecast 10%+ decline toward 2010. Considering there so many home owners with negative equity and unemployment is still increasing, I tend to agree with their forecast toward 2010.
It is also interesting to note that:
- In former bubble areas such as Phoenix, Las Vegas and Florida cities, 30%+ home owners carry negative equity and economy is quite bad. Therefore home price will continue to decline toward 2012 but it will NOT rebound toward 2014.
- BUT in major job centers such as Seattle, San Francisco, San Jose, San Diego and Boston, there are solid job market and high-income consumers. Therefore, Economy.com forecast 20-30% home price appreciation toward 2014.
Anyhow, I recommend that you treat this kind of data as "reference only" ince real estate markets depends on locations, school district, etc...
Happy Investing!!!!
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