Posts Tagged overbuilding

Photo by nDevilTV

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

 Print This Post

• Top 5 Least Stressful Cities Photo by vramak Forbes.com recently listed America's most stressful cities.  You can follow the link to the original article through Yahoo! Real Estate.  The factors taken into account were unemployment rates, cost of living figures, median home price drops, population density, sunny and partly sunny days, and air quality. ......
• Barbaric Book Review: The Wealthy Barber The Wealthy Barber by David Chilton was first published in 1991.  It's a basic financial guide, told in a narrative style, about three young people who seek financial advice from the town barber.  Yes, you read that correctly, a barber. The story follows a young teacher as he learns, along......
• Barbaric Book Review: Die Broke by Stephen M. Pollan, Part 3 This is Part 3 of my review of Die Broke.  You can read parts 1 and 2 by clicking on the following links: Die Broke, Part 1 - Quit Today Die Broke, Part 2 - Pay Cash Step 3: Don't Retire Don't retire?  I thought we should be planning for retirement......

• Free audio on how to build wealth investing in commercial real estate Greetings! Below, I have some interesting links regarding 1) the impact of the economy on commercial real estate 2) Real Estate investing vs. stocks 3) Job growth or lack of. We are coming up on interesting times.....opportunities abound! Anyway.... I was going through my email tonight and read an email......
• Real Estate and Taxes No one likes paying taxes, especially not real estate investors. Luckily, congress has been kind and offered a lot of tax breaks. Whenever you make a profit in real estate, there's usually a way to avoid or atleast defer paying taxes. The most well-known tax break is the 121 home......
• Laguna Seca Golf Course, Monterey, CA Laguna Seca is located in Monterey, CA Phone: (831) 373-3701 Website: http://www.lagunasecagolf.com/sites/courses/view.asp?id=292&page=6005 Course History: This course first opened in 1970 and was designed by Robert Trent Jones. It was instantly one of the most popular courses in the area and it is easy to see why. By combining great......