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12-27-2008, 11:43 AM
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#1 |
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Post Whore!
 
Join Date: Oct 2006
Location: the land of snow potholes and no tracks
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10 Worst Real Estate Markets for 2009....guess the #1 spot
he housing market hasn't bottomed out yet. For the third quarter, the closely-watched S&P Case-Shiller national home-price index fell 16.6%, and experts are predicting further declines. Of the top 100 markets, here are 10 with the worst forecasts.
1. Los Angeles 2008 median house price: $375,340 2009 projected change: -24.9% 2010 projected change: -5.1% The median home price in the L.A.-Long Beach-Glendale metro area is projected to fall nearly 25% in 2009 - the biggest drop in the country. 2. Stockton, Calif. 2008 median house price: $248,050 2009 projected change: -24.7% 2010 projected change: -4.0% 3. Riverside, Calif. 2008 median house price: $256,540 2009 projected change: -23.3% 2010 projected change: -4.8% 4. Miami-Miami Beach 2008 median house price: $293,590 2009 projected change: -22.8% 2010 projected change: -6.4% Miami will be nursing the hangover from its epic building boom for years to come. After falling 22% in 2008, prices are predicted to plunge another 23% next year. 5. Sacramento 2008 median house price: $225,140 2009 projected change: -22.2% 2010 projected change: 2.3% 6. Santa Ana-Anaheim 2008 median house price: $532,810 2009 projected change: -22.0% 2010 projected change: -3.5% 7. Fresno 2008 median house price: $257,170 2009 projected change: -21.6% 2010 projected change: -3.3% 8. San Diego 2008 median house price: $412,490 2009 projected change: -21.1% 2010 projected change: -2.9% 9. Bakersfield, Calif. 2008 median house price: $227,270 2009 projected change: -20.9% 2010 projected change: -2.5% 10. Washington, D.C. 2008 median house price: $343,160 2009 projected change: -19.9% 2010 projected change: -5.7% damn I wish I had the money to buy a house right now....you could probably get a sick ass house for cheap in the next few years |
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12-27-2008, 11:47 AM
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#2 |
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Post Whore!
Join Date: Sep 2005
Location: beverly hills
Age: 89
Posts: 4,260
Trader Rating: (6)
Feedback Score: 6 reviews
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Not surprised at all. I live in la. Hope our real estate tax will come down accordingly as well.
Fresno & Bakersfield comes in as a bit of a shock. They're weren't that overpriced or expensive to begin with. Was really hoping home prices went lower in San Francisco or Berkeley. Would be nice to move there and get the hell out of socal. |
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12-27-2008, 12:20 PM
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#4 |
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Nissanaholic!
 Join Date: Mar 2004
Location: Oxford, UK/Miami
Age: 36
Posts: 1,710
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LOL at Miami u should see how many new condo buildings dontown were built and they have no one to live there, the rent is stupid cheap and they are giving away months of rent haha
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12-27-2008, 01:03 PM
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#6 | |
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Zilvia Addict
 
Join Date: Jun 2008
Location: SoCal 818
Age: 43
Posts: 901
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Feedback Score: 12 reviews
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12-27-2008, 01:09 PM
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#7 | |
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Post Whore!
Join Date: Feb 2003
Location: San Jose, CA
Age: 39
Posts: 3,713
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Quote:
bunch of socialist hippies. cool to visit there, but sucks to live there.
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12-27-2008, 01:15 PM
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#8 | |
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Post Whore!
 
Join Date: Jan 2004
Location: Phoenix AZ
Age: 39
Posts: 10,287
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8 out of 10 were california... how surprising
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12-27-2008, 02:13 PM
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#9 | |
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Post Whore!
Join Date: Sep 2005
Location: beverly hills
Age: 89
Posts: 4,260
Trader Rating: (6)
Feedback Score: 6 reviews
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Quote:
besides Id take the Berkeley hippies over the damn LA yuppies anyday. LA ppl in general just don't appeal to me. It's also close to the city, and you don't really need to drive in certain parts. Really quite convenient, unlike most parts of socal. I lived between the Bay Area and Sf for 4 years. It wasn't perfect, and its not for everyone, but I enjoyed it a lot more than socal. |
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12-27-2008, 02:17 PM
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#10 | |
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Post Whore!
Join Date: Mar 2003
Location: Western Conference
Posts: 9,429
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12-27-2008, 02:51 PM
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#11 |
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Philosopher King
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Fresno is the biggest city in the valley so it makes sense that the when the market hit hard it dropped fast here. I know my mom's house has lost about 20% of its value in the last 2 years. What's funny is that that has actually been good for her.
The housing market crash was a good thing for this area. The were filling in the best farmland in the world with stupid cookie cutter houses. Now no one wants to buy them.
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12-27-2008, 03:30 PM
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#12 |
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Post Whore!
Join Date: Mar 2005
Location: Oakland (OT) Michigan
Age: 39
Posts: 3,353
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interesting. we were set to move to la jolla several years ago, instead of the detroit area. la jolla is part of the san diego area, right? interesting stuff. my parents house took a big hit the last year. but they did pick up a 2nd house for a hell of a deal. theres good and bad i suppose. hopefully ill be able to buy a house before the market turns around. time will tell.
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-Dane |
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12-27-2008, 04:04 PM
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#13 |
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Post Whore!
Join Date: Feb 2002
Location: Philly
Age: 41
Posts: 9,185
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I'm surprised Washington D.C. made part of the top 10...
I knew it was bad, but not on par with Cali and Florida. I wouldn't mind living there if I worked in the city and had a crap car (crappy roads and side street parking).
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