10 bad cities to buy ss
Post on 23-Aug-2014
508 Views
Preview:
DESCRIPTION
TRANSCRIPT
10 Places You DON’T Want To Buy A House
10. Elkhart, IN
• Despite a lower-than-average unemployment rate, Elkhart home values are expected to fall
• Elkhart’s home values are still 13% below pre-crash values
Projected 1-Year Decline: 0.9%
Public domain
9. Provo, UT
• Provo’s home values declined by more than 3% over the past year, and are expected to continue to do so
• Provo’s market has barely rebounded, and is currently just 8% higher than the 2012 lows
Projected 1-Year Decline: 1.0%
Michael Duersch
8. Santa Fe, NM
• Santa Fe’s home values are just 3% above the lows
• If the declines continue, we could see new post-crisis low prices in Santa Fe
Projected 1-Year Decline: 1.1%
Wikipedia/ prazak
7. Columbia, MO
• Columbia’s home values have declined almost 4% in the past year
• The market is ranked just a 1.4 out of 10 on Zillow’s “health” index
Projected 1-Year Decline: 1.1%
Wikipedia/ csch15
6. Ocean City, NJ
• Ocean City has an expensive market, with the average home worth about half a million dollars
• Superstorm Sandy has created a difficult housing recovery in the area
Projected 1-Year Decline: 1.6%
Wikipedia/ Arabsalam
5. Houma, LA
• Houma’s market has rebounded strongly since the crisis, and may have come too far, too fast
• The average home value in Houma is actually more than its pre-crisis peak
Projected 1-Year Decline: 1.8%
Wikipedia/ infrogmation
4. Charlottesville, VA
• Charlottesville actually has a fairly robust market, with far fewer underwater mortgages and delinquent homeowners than the U.S. average
• However, the average listing price has risen more than 22% in the last 18 months alone, leaving the market due for a pullback
Projected 1-Year Decline: 1.8%
Bobak Ha’Eri
3. Cape Cod, MA
• Cape Cod’s home values are still well below the pre-crisis peak
• After a strong 2013, home values have already begun to fall this year
Projected 1-Year Decline: 2.0%
Flickr/ Phillip Capper de Wellington
2. Baton Rouge, LA
• Baton Rouge has a relatively inexpensive market, with the average home worth $138,400
• However, the market barely budged during the crash, and is now 5% higher than its pre-crisis peak
Projected 1-Year Decline: 2.5%
Public domain
1. Kingston, NY
• Kingston has one of the least healthy real estate markets in the U.S.
• 24% of Kingston’s homeowners are underwater on their mortgage
• Nearly 14% of all mortgages are currently delinquent in Kingston
Projected 1-Year Decline: 2.5%
Daniel Case
Try The Motley Fool’s Flagship Service Risk-Free
top related