Posts Tagged Boston

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Economists are saying that some of the country’s real estate markets are showing signs of recovering.  Yahoo! Finance says that they expect the national market to bottom out in 2010.  You can read the original article by clicking the link:

Where Home Prices are Likely to Rise

While these cities won’t experience exponential growth, at least there’s a tick upward, rather than down.  Better than Moody’s prediction of  a 16.08% nationwide decrease by the end of the year.  And things don’t improve that quickly, either.  They don’t expect a return to the pre-crash levels until 2014.

If you live in Florida, you probably will continue to see prices drop.  The article cites overbuilding and a slow-growing economy as the obvious reasons.  Contrast this with cities in Texas, where tougher zoning laws prevented overbuilding.  The loss of population and jobs has hurt the Midwest, and Detroit has its own problems related to the auto industry.

Without further ado, here’s the list of the early risers:

Atlanta, GA

1 year change, 2009: -14.91%

3 year change, 2009-2012: 0.98%

5 year change, 2009-2014: 11.35%

Austin, TX

1 year change, 2009: 0.29%

3 year change, 2009-2012: -1.54%

5 year change, 2009-2014: -1.01%

Baltimore, MD

1 year change, 2009: -13.32%

3 year change, 2009-2012: -3.33%

5 year change, 2009-2014: 9.22%

Boston, MA

1 year change, 2009: -9.75%

3 year change, 2009-2012: 4.48%

5 year change, 2009-2014: 20.44%

Charlotte, NC

1 year change, 2009: -8.15%

3 year change, 2009-2012: 3.54%

5 year change, 2009-2014: 12.20%

Wow, a 20% growth in Boston!  I was hoping for some good news in the New York area, but it seems our pain is just beginning.  We’ll only expect a 4% growth over the next 5 years.  I’m glad we’re not planning on moving anytime soon.

How about your area?  Click on the following link to see a complete list that Forbes.com has put together:

In Depth: Where Home Prices Are Likely To Rise

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