Real Estate Crash: How's Your City Doing?

Question

Dallas and Denver are on top.

http://www.businessinsider.com/henry-blodget-real-estate-heads-for-the-depths-2009-7#dallas-tx-

J Scott · Answer

I'm picking up REOs left and right at 20-30% of peak market prices, and even properties in very good condition appear to be down 30-40% the past year or two.

Jackie Cramer · Answer

I closely watched the last 4 real estate "crashes" and never got a rental until 2008/9.

My POV is that the 'walk down memory lane' while feeling good does not reflect current scenario.

The price rise is not fueled by cheap money though it has helped alot, but by cash in the market.

The last crash, as most recall was about the undewriting guidelines being thrown away in a misguided attempt at fairness. We all saw how that worked out. Many here greatly benefitted from that.

it did reinforce the lesson that crap properties were still crap.

Today the market drivers are different and underpinned by people that have grown tired of money market instabilities and lack of personal control of their futures

FOMO applies here too, but my opion is that many, both individuals and institutions have realised the housing is something needed by all AND 'THEY AIN'T MAKING ANYMORE DIRT"

Andrey Rudenko · Answer

These comments are a great reminder of the sentiment during the actual crash. Like going through history books.

Justin S. · Answer

Phoenix at -54% is about right, but houses are selling fast.  I'm getting multiple offers within a few days on market.

Adrian Pillow · Answer

DC I will agree is about -20% off.  Depending on location, some areas are soft and other barely feel at all.

Atlanta is getting destroyed!!! This -15% is baloney. Vacancies and foreclosures are rampant there, no matter which areas I have seen in the last few weeks. Sad sad sad. The job market is weak as well so no rebound for them anytime soon. Depending on where you are I think closer to 25-50% off peak.

Just the way I see it.

Rich Weese · Answer

Josh-
      Leave some FL properties for me. I'm on my way... Rich

Lynn Z · Answer

South Carolina - flat to nothing moving.
Rentals next to nothing.   I don't know what realtors et al are living on.  Spousal income I suppose

Jon Klaus · Answer

Yes, "on top" means least decline from peak to trough.  Perhaps you, Vegas, and Phoenix will be on top in appreciation from trough going forward.

Josh Green · Answer

by 'on top' you meant for the least amount of fallout right?

my market (tampa) has a 41% decrease from peak to trough and a current decrease of 23%. nice!

Real Estate Crash: How's Your City Doing?

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