Home prices to fall through 2010 ... at least ... in many markets
That is my personal belief, and also the conclusion of the latest Winter 2009 Economic and Real Estate Trends Report (PDF link) from PMI Mortgage Insurance. The company's Market Risk Index, which measures the likelihood that prices will fall over the next two years, climbed in 369 out of 381 metropolitan statistical areas in the third quarter. Not surprisingly, PMI cited rising foreclosures and rising unemployment as the two key drivers of slumping prices. Markets in California and Florida had the highest risk readings, while markets in Texas and a few other isolated locations had the lowest.
posted by Mike Larson at
12:43 PM
1 Comments:
Uh, not very optimistic prediction. Especially for us here in Canada, where the prices decline began just few months ago. I believe our markets are connected only very loosely, but some people think what happens in the USA right now will happen in year in Canada too. So one reason more to panic...
Best wishes]
Julie
By
Anonymous, at January 15, 2009 at 4:50 PM
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