Florida (lots of Florida), Arizona, New Jersey, maybe 1 or 2 other states.
oh crap - most in florida!!
Top 15 Worse Housing Market which will continue tanking even in 2012:
AN OPPORTUNITY PERHAPS FOR THE MONIED VULTURES OUT THERE??
#15 Prescott, Ariz.
Median home price today: $170,000
Median home price in 2012: $146,000
#14 Salinas, Calif.
Median home price today: $247,000
Median home price in 2012: $211,000
#13 Pensacola, Fla.
Median home price today: $142,000
Median home price in 2012: $120,000
#12 Cape Coral, Fla.
Median home price today: $100,000
Median home price in 2012: $83,800
#11 West Palm Beach, Fla.
Median home price today: $212,000
Median home price in 2012: $177,000
#10 Punta Gorda, Fla.
Median home price today: $135,000
Median home price in 2012: $111,000
#9 Orlando, Fla.
Median home price today: $155,000
Median home price in 2012: $126,000
#8 Atlantic City, NJ
Median home price today: $220,000
Median home price in 2012: $179,000
#7 Fort Lauderdale, Fla.
Median home price today: $203,000
Median home price in 2012: $165,000
#6 Gainesville, Fla.
Median home price today: $175,000
Median home price in 2012: $142,000
#5 Phoenix, Ariz.
Median home price today: $144,000
Median home price in 2012: $115,000
#4 Ocean City, NJ
Median home price today: $305,000
Median home price in 2012: $242,000
#3 Miami, Fla.
Median home price today: $190,000
Median home price in 2012: $145,000
# 2 Las Vegas, Nev.
Median home price today: $153,000
Median home price in 2012: $112,000
#1 Naples, Fla.
Median home price today: $260,000
Median home price in 2012: $196,000
FEI ( For everyone’s Info ), I took a trip to Las Vegas two weeks ago and what did I see?? Groups of Chinese businessmen being toured around Las Vegas by REAL ESTATE AGENTS.
I spoke to one of these agents and they tell me that these Chinese are here to look into buying property and renting them out. Imagine buying a property for $100,000 and renting it out for say $800/month. That’s like putting money in a bank for 8% interest every year.
The agents tell me that this has been happening for over a year now and Las Vegas is not the only place where the Chinese are visiting... Arizona is the other.
Like it or not, the foreigners are coming here to OWN parts of America.
This understates the issue: new prices for median homes fell 13.9% from September to October. THAT IS A CRASH FOLKS. End of subsidies, end of market. Overdue and artificially delayed CRASH. Double dip here wwe come.
Thanks, Paul Krugman.
Helicopter Ben just messed is drawers when the read this report.
a few of these reflect a collapsed second home market where there is no demand or credit for beach or beach oriented homes
it will always be worse there than primary home market
oddly some places where I live have held up
Urban Nashville....Belle Meade, Green Hills...the posh areas...have held up solid...appreciation has slowed but values have held and new construction is still happening ...even spec building on clusters but mostly just homes built per order
out in rural Williamson county where I moved it’s declined a bit...I’d say 20% since 2007 and maybe more in past 18 months
several other Nashville ring counties have been hurt much much worse...
Nashville has had less a recession than most but pockets like Spring Hill (GM) have been clobbered
Naples, FL is #1. Pretty unbelievable considering the amount of wealth there......almost as unbelievable as the waves the surfers are riding in the photo they attached. I’ve never seen waves like that on the west coast of Fl. The photo might be from Florida, but it isn’t Naples.