Check out this article I found on
Florida Home Loan . It states New York, Massachusetts, Virginia, Colorado, Oregon, Michigan and New Jersey are among the worst 25 markets. Florida seems to be the winner ...with Miami being #1. Go Florida!
-=Chipmunk=-
The Worst 25 U.S. housing markets in 2007 in the Housing Predictor forecast represents markets in 13 states, which shows housing prices in much of the nation are still declining, despite local markets in another 13 states that are appreciating.
Miami was selected as the #1 worst housing market in the U.S., mainly due to a market that had seen high-flying double digit appreciation pushed by new and
condo conversions, causing Miami to spiral downward, resulting in a slower market with increasing unemployment. More than 25,000 new units are due to hit the
Miami condo market in the next 15 months, providing an inventory of new units on the market that should take years to sell out.
- Not all of the Miami market will see double digit depreciation in 2007, particularly not lower priced single family homes under $250,000.
- Nonetheless, the average loss in values is forecast by Housing Predictor to hit 13.9 percent by the end of 2007.
- Low Florida mortgage rates won’t spur demand in Miami, experts believe, as the glut of inventory will continue to depress sales.
In the west, San Diego has a home market where sales are slow. San Diego will see prices fall an average of 13.5 percent in 2007, experts predict, to take the second position on the Worst 25 Market list. San Diego experienced some of the fastest and highest appreciation in the nation before hikes in mortgage rates at first slowed the market and then brought the days of soaring
appreciation to an end.
Higher end homes in the outskirts of La Jolla, known for being a home to the rich and famous, are now being sold for as much as 35 percent below their all-time high
home prices of nearly three years ago.
The California housing market is showing signs of stability in some areas, but it will take time for the markets to reach pricing levels where buyers are comfortable again in many parts of the state. California has more local housing markets on the Worst 25 List than any single other state with seven making the grade.
On the east coast, Florida is only second to California with four markets making the list, including the Tampa and
Orlando housing market. However, many parts of Florida have already stabilized and are experiencing growth in sales activity. After a series of hurricanes hammered the state in 2004 and 2005, home sales fell off, but low
Florida mortgage loan costs helped many areas escape long-term housing slumps. Many of the nation’s most densely populated urban centers are still seeing weak markets as a result of higher
mortgage rates and five years plus of above average appreciation, many in the double digits.
These cycles typically run in 7-10 year cycles nationally, with some exceptions. Only two years typically run at fever pitch appreciation levels.
New York, Massachusetts, Virginia, Colorado, Oregon, Michigan and New Jersey are among other states with markets listed on the Worst 25.
SOURCE: HousingPredictor.com
I'm not here to get into a soccer vs. football cat fight. I was just having a little fun with LazyHippy. No biggie. 
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