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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Housing Slowdown Worse in Midwest than California?
Posted on 09/22/2006 20:31 PM | Link | Post Comment
Posted on 09/22/2006 20:27:59 | Link | Post Comment That is what the experts are projecting. The inventory bump in California will not be nearly as disruptive to pricing of homes as the economic decline in the rust belt states is to housing costs and foreclosures. The San Francisco ?Oakland region is in for a soft landing as job growth and wage inflation are keeping the incredible rise in housing costs affordable.
Some cities in California are also more likely to see home-price declines because of the significant run-up in home prices during the boom, but the analysts point out that the Bay area, namely San Francisco and Oakland, is actually experiencing less risk of a price decline because of rising income growth and fewer job losses in that area. Nationwide, Credit Suisse analysts believe that barring an economic disruption, the current housing-market slowdown will become &58947;n orderly soft landing.?
READ: Big cities, bright prospects Are America's Most Expensive Cities Overvalued?
However the midwest has seen a tremendous loss of jobs and business. This economic downturn is forcing many into bankruptcy and foreclosure. The lack of jobs in these areas are not bringing in new buyers so there is barely any market for housing. With no flow, the opportunity to get out of a bad mortgage is nearly impossible for the struggling borrower.
Some cities in California are also more likely to see home-price declines because of the significant run-up in home prices during the boom, but the analysts point out that the Bay area, namely San Francisco and Oakland, is actually experiencing less risk of a price decline because of rising income growth and fewer job losses in that area. Nationwide, Credit Suisse analysts believe that barring an economic disruption, the current housing-market slowdown will become &58947;n orderly soft landing.?
READ: Big cities, bright prospects Are America's Most Expensive Cities Overvalued?
However the midwest has seen a tremendous loss of jobs and business. This economic downturn is forcing many into bankruptcy and foreclosure. The lack of jobs in these areas are not bringing in new buyers so there is barely any market for housing. With no flow, the opportunity to get out of a bad mortgage is nearly impossible for the struggling borrower.
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Examples
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Millionaire Now! by Larry Nusbaum - Tue Jul 22, 2008 09:23AM
Hedge funds have made billions this year shorting the banks, [read more]
Hedge funds have made billions this year shorting the banks, [read more]
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