10 Markets Set For Steep Losses

[Jack and Barbara 0]

According to CNN Money, the following 10 cities will see prices fall tremendously in the next year.

1. Miami, FL

12-month forecast: -24.9%

Median home price: $329,000

One year price change: -9.8%

Five year price change: 94.8%

Prices forecast to hit bottom:

April-June, 2010

Change in foreclosure rate: 370%

2. Ft. Lauderdale, FL

12-month forecast: -22.2%

Median home price: $309,000

One year price change: -17%

Five year price change: 56.1%

Prices forecast to hit bottom:

April-June, 2010

Change in foreclosure rate: 450%

3. Orlando, FL

12-month forecast: -21%

Median home price: $245,000

One year price change: -13.1%

Five year price change: 62.5%

Prices forecast to hit bottom:

July-Sept., 2010

Change in foreclosure rate: 399%

4. Phoenix, AZ

12-month forecast: -18.3%

Median home price: $237,000

One year price change: -15.2%

Five year price change: 60.9%

Prices forecast to hit bottom:

Oct.-Dec., 2009

Change in foreclosure rate: 9%

5. Las Vegas, NM

12-month forecast: -18.3%

Median home price: $277,000

One year price change: -15.7%

Five year price change: 60.8%

Prices forecast to hit bottom:

Jan.-Mar., 2010

Change in foreclosure rate: 2%

6. West Palm Beach, FL

12-month forecast: -17.6%

Median home price: $305,000

One year price change: -18.7%

Five year price change: 46.1%

Prices forecast to hit bottom: Oct.-Dec., 2009

Change in foreclosure rate: 435%

7. Tampa, FL

12-month forecast: -17.1%

Median home price: $200,000

One year price change: -12.8%

Five year price change: 52.1%

Prices forecast to hit bottom: Jan.-Mar., 2010

Change in foreclosure rate: 281%

8. Riverside, CA

12-month forecast: -16.9%

Median home price: $340,000

One year price change: -26.3%

Five year price change: 49.9%

Prices forecast to hit bottom:

April-June, 2009

Change in foreclosure rate: 299%

9. Tucson, AZ

12-month forecast: -16.9%

Median home price: $217,000

One year price change: -7.6%

Five year price change: 54.5%

Prices forecast to hit bottom: Jan.-Mar., 2010

Change in foreclosure rate: 14%

10. Stockton, CA

12-month forecast: -16.8%

Median home price: $341,000

One year price change: -31.9%

Five year price change: 17.8%

Prices forecast to hit bottom:

April-June, 2009

Change in foreclosure rate: 379%

[Niels Bohr 72]

Massachusetts has record foreclosures rates; however, Massachusetts at the same time has the highest GDP in the nation. Weird.

[mawilson 2,133]

Massachusetts has record foreclosures rates; however, Massachusetts at the same time has the highest GDP in the nation. Weird.

Massachusetts doesn't have the highest GDP in the nation.

The highest is California, followed by New York and Texas.

If you are talking about GDP per capita, then the honor goes to the District of Columbia,

followed by Delaware and Connecticut.

[Ban Hammer 13,334]

5. Las Vegas, NM

there's a las vegas, new mexico?

[Marc and Olga 0]

9. Tucson, AZ

12-month forecast: -16.9%

Median home price: $217,000

One year price change: -7.6%

Five year price change: 54.5%

Prices forecast to hit bottom: Jan.-Mar., 2010

Change in foreclosure rate: 14%

Ah #######! Then again I'm not planning on selling or refinancing before 2012 anyway ...

[Jack and Barbara 0]

5. Las Vegas, NM

there's a las vegas, new mexico?

Good catch. It's still in Nevada as far as I know. Maybe with the fall in prices there it will get up and move farther south...

[DeadPoolX 9]

5. Las Vegas, NM

there's a las vegas, new mexico?

Well, there's a "Paris, TX" so I suppose it's possible, but somehow I think it's more likely an error. Even so, no one cares about Paris, TX whereas people actually want to visit Las Vegas.

[Ban Hammer 13,334]

5. Las Vegas, NM

there's a las vegas, new mexico?

Well, there's a "Paris, TX" so I suppose it's possible, but somehow I think it's more likely an error. Even so, no one cares about Paris, TX whereas people actually want to visit Las Vegas.

i've been to both, never saw paris, texas on cops

[Cassie 8]

5. Las Vegas, NM

there's a las vegas, new mexico?

Well, there's a "Paris, TX" so I suppose it's possible, but somehow I think it's more likely an error. Even so, no one cares about Paris, TX whereas people actually want to visit Las Vegas.

And a Miami, Oklahoma. Which is not pronounced Mia-meee, but Miam-uh. go figure.

[Mr. Big Dog 10,747]

7. Tampa, FL

12-month forecast: -17.1%

Median home price: $200,000

One year price change: -12.8%

Five year price change: 52.1%

Prices forecast to hit bottom: Jan.-Mar., 2010

Change in foreclosure rate: 281%

Well, I guess without a new job that offers a huge relo package, we won't move anytime soon.

[LaL 418]

Shoot me now.

7. Tampa, FL

12-month forecast: -17.1%

Median home price: $200,000

One year price change: -12.8%

Five year price change: 52.1%

Prices forecast to hit bottom: Jan.-Mar., 2010

Change in foreclosure rate: 281%

Well, I guess without a new job that offers a huge relo package, we won't move anytime soon.

hehe - we *did* get an outstanding relo package - but the ability to unload this house is weighing on us heavily.

Edited May 9, 2008 by LaL

[Niels Bohr 72]

Massachusetts has record foreclosures rates; however, Massachusetts at the same time has the highest GDP in the nation. Weird.

Massachusetts doesn't have the highest GDP in the nation.

The highest is California, followed by New York and Texas.

If you are talking about GDP per capita, then the honor goes to the District of Columbia,

followed by Delaware and Connecticut.

It was on the Boston Globe a few days ago.

[Jack and Barbara 0]

Just have to keep in mind that these are estimates, which would likely change for better or worse. Low house prices might be an incentive to relocate to those cities in my mind. The housing market won't be like this forever and there are deals to be made if you are buying.