Where not to buy a house within the next year
 

cnn business article
http://money.cnn.com/popups/2006/biz...herenot/6.html

link
At a glance: Projected drop in median home prices
Stockton, CA - 9.7%
Merced, CA - 8.9%
Reno/Sparks, NV - 8.9%
Fresno, CA - 7.9%
Vallejo/Fairfield, CA - 7.8%
Las Vegas, NV - 7.1%
Bakersfield, CA - 6.6%
Sacramento, CA - 6.4% :(
Washington, D.C. - 6.3%
Tucson, AZ - 6.2%

Ouch. I wonder how San Diego and LA will fare.

im not sure.seems like its pretty much the central valley and sacramento thats going to get hit the hardest

look out the roof is on fire.

San Diego is already dropping. And it was never worth what they were asking anyway.

True but what I had in mind was more along the lines of "how much further down will it go?"

Anyone know how long housing bear markets normally run?

da roof, da roof, da roof is on fire

lets hope foreclosures are close by...

Once the ARMs kick in.....its over cause majority of those people will not be able to refinance into a fixed rate mortgage(they went No Doc for a reason)
I say a year or 2 until it fully bottoms causes houses aren't as liquid as stocks

Home prices are way too high righ now anyway.

That sucks.

Doesn't make sense.... those are the top cities where median prices are dropping. This clearly makes it a buyer's market in those cities, right?

I guess the US is like Australia where even in cities where they say the medium is dropping certain areas are still going up, trick is to pick these suburbs.