Looking To Buy Some Real Estate Domains? Avoid These Cities
December 29, 2008 · by Scott
According to the Case-Shiller Home Price Index, California is in for a rocky 2009. Overall, the 2008 Q3 report shows a 16.6% drop in the index, continuing the trend of it falling every quarter since 2006 Q2.
As for their forecasts for 2009, 8 of the 10 cities with the worst forecasts are in California. The top slot goes to Los Angeles, with the median home price projected to drop 24.9%. Here are the remaining 91 cities and their projected drops:
- Los Angeles, CA -24.9%
- Stockton, CA -14.7%
- Riverside, CA -23.3%
- Miami, FL -22.8%
- Sacramento, CA -22.2%
- Santa Ana-Anaheim, CA -22.0%
- Fresno, CA -21.6%
- San Diego, CA -21.1%
- Bakersfield, CA -20.9%
- Washington, DC -19.9%
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Comments
4 Responses to “Looking To Buy Some Real Estate Domains? Avoid These Cities”
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Maybe all that lost momentum is being sucked out by
Beijing
Shanghai
Guanxaoi
?
Still prices shall go up in the future - I dont think any property the now is a bad investment if you look at in a long term investment.
Regards,
Robbie
It should be noted that “foreclosure” related domains become more relevant in situations like this. And the price drops allow more buyers into the market, so good real estate names in these areas could actually be worth considering.
***EDIT***
Interesting way to look at it. I was aiming more for the unhealthy market point of view. But you’re right, I suppose it can allow more people to get in the market. Now if only they could get the mortgage!
thanks!
-Scott
["...8 of the 10 cities with the worst forecasts are in California. The top slot goes to Los Angeles, with the median home price projected to drop 24.9%..."]