More doom and gloom news from the Real Estate sector. An article today on Market Watch shows that home prices are going down still.
“Home prices surged in 2003 through 2006, climbing by a cumulative 52%, according to Case-Shiller. Since then, however, the housing and credit bubbles have burst and homeowners have given up half of their gains from earlier in the decade.”
” Here's the city-by-city breakdown in the Case-Shiller index:
Las Vegas, down 26.8% in the past year; Miami, down 26.7%; Phoenix, down 25%; Los Angeles, down 23.1%; San Diego, down 22.4%; San Francisco, down 22.1%; Tampa, down 20.4%; Detroit, down 18%; Minneapolis, down 15.5%; Washington, down 14.8%; Chicago, down 9.3%; New York, down 8.4%; Atlanta, down 7.5%; Cleveland, down 6.8%; Boston, down 6.4%; Seattle, down 4.9%; Denver and Portland, both down 4.7%; Dallas, down 3.4%; and Charlotte, down 0.1%. “
http://www.marketwatch.com/news/story/four-years-home-price-gains-wiped/story.aspx?guid=%7BEB1B0595%2D37FA%2D4542%2D88A2%2DCE470ACAF101%7D
Well it looks like we still have a way to go before we see some sort of bottom in this crazy Real Estate market.
