The 15 Worst Housing Markets For The Next Five Years

I don't believe this at all. Midland Texas so shouldn't be on this list, my house has gone up in value since I moved here in 08. Maybe who wrote this was jealous of tx housing market IMO

I find it very interesting that a week or two ago Austin, Texas was listed as one of the best places to live(I never believed it due to the screwed up politics there.) Now it shows as one of the bad housing markets. You can't have it both ways. It's just who is blabbing at the moment.

Hard to believe not one city from Michigan or at least the Detroit area on this list. Maybe those values are just so low you can't lose anymore.

HUMMMM, I dont see Las Vegas (thousands and thousands of banko wned house and more that they wont take and even more people ready to give them up, zero industry and zero economic growth prospects) Also missing Phoenix and any California city. With "expert" analysis like this makes your realize how so many people missed calling this meltdown when a blind man could have seen it coming.

Under the bridge on I-395 at mile marker 86 has land value increasing. I suppose it may be because there is a creek that runs under it and we can wash without straying too far from our cardboard boxes.

Have home owners in Miami seen a reduction in property tax? Wherever home values has seen a decrease, the taxpayers should force their local governments to reduce their property tax.

My wife and I recently moved to Chicago for our careers. We began looking at homes in hopes of buying. Prices seem to have dropped since the bubble, but homes are still quite expensive. We can however, afford to buy, until..... we looked at the taxes and insurance.

Some of the homes we are looking at have taxes that are so high it just doesn't make financial sense to buy. We have decided to rent and get out of this state as soon as our careers allow.

One particular home was a really cheap bank owned for $98,000 in the suburbs. We liked it until we found out that even with the home paid off, we would still be paying over $400.00 per month in taxes. That is almost as much as a mortgage for the price of the home. Ridiculous. The American dream that was built off of homeownership is gone.

What caused this? A "middle class" that's been told they should be living like the "little bit rich" of years past. Enormous vehicles? Cookie Bouquet? Edible Arrangements? Build-A-Bear? The Disney Store? Tapas? $4.00 Cupcakes? Everyone has come to "need" a string of WILDLY OVERPRICED FRIVOLITIES that NOBODY NEEDS! The mere existence of such products/retailers are a sign of a society that has more credit than brains!

Add to that, two NEW cars every 2-5 years, giant "show piece" homes and ALL the crap one needs to buy to "fill them up" and we've spent the last 20 years living high off of money that wasn't even ours and wasn't really even there! We've had 20 years of extravagant, gluttonous living that was all made possible ONLY by cheap Chinese goods, financial "inventions" from Wall Street and easy and plentiful credit.

It was a false "lifestyle" that's coming to it's inevitable end. The bar will painfully get "reset" and what it means to be "middle class" will mean something different. Your earnings and your savings will count MORE than your FICO score and I say bravo!

Then again...Wall Street and politicians are working hard to come up with some way to "loan" us all another big pile of Monopoly Money, just to keep the game going.

Also. Here's the easy way to solve the health care crisis in this country. OUTLAW the health insurance scheme! OUTLAW ALL health insurance. Doctors and hospitals will then be FORCED to charge what "the market" can actually support, in other words, what enough people can or are willing to pay. Prices would be VERY different on everything from the E.R. to prescription drugs.

Been through it all in past decade - up, down, around and back but never folded. One foreclosure, one short-sale countered by two profits. Started with a $240,000, Sold for double, bought $500,000, sold, bought $1,000,000. Now back to basics with a realistic monthly payment which is where I should have stayed. Nice ride but wouldn't want to try that again. Lesson learned - stick to what I can truly afford. No one forced me to buy, any pain was earned.

Housing is no longer seen as a good investment. Many who tried to "flip" homes are the ones who got stung the worst. People are waiting to buy with the expectation of lower prices and deflation in certain sectors of the economy. Downsizing and bigger down payments are the rule now. The 15 year fixed rate mortgage is more desireable than ever. Don't buy a house as an investment. Buy it to live in. Look for low maintenance, smaller size, and high efficiency, NOT "keeping up with the Jones".

Problem is everyone has viewed their home as an investment rather than a place to live. They paid top dollar and spent all they could afford for an upper end house. When prices come crashing back to earth they are stunned to find out they are upside down.

People don't want to fix up a house and build equity they would rather over spend and then deal with the house when it starts to show builder cut-corners are us specials. After 10 years they are further behind because of shoddy workmanship by a builder, can't get the builder because he is long gone in bankruptcy.

Had the same people bought a modest home and renovated it with quality contractors they would be miles ahead. But they would rather talk to a realtor and believe "hype" than the truth.

Everyone is looking for a "silver bullet", believe in hype and fairy tales rather than put in any effort of their own to do something. When you spend like a free-wheeling nelly sooner or later it catches up with you. History has repeated this over and over... I refer you to the story about the grasshoper and the ant.

The grasshopper eats for the here and now. The ant works and stores up. The ant is always working and preparing. The grasshopper does not work ever nor does he prepare for anything. Which one are you?

We are in a MESS because we have way too many Career Politicians,
They need to serve for only a few years and be gone!

The U.S. is now so messed up even the Mexicans are leaving.

You need a roof over you head so qut thinking about it as an investment. Thinking about your home as just an investment is part of the problem.

Very True Home Values Have Decreased --But Insurance And Property Taxes Have Increased.
Corrupt Politicians Are Not Just Confined To Washington DC

If you're looking for overpriced housing, Manhattan is the place to be - still full of people willing to pay over $1000 per square foot for tiny co-ops that require you to be approved by those snobbish boards. I guess there will always be people willing to be abused. Yes, the cultural opportunities there are unmatched. Unfortunately, if you have to work there you probably won't have time for many of them.

Let's face it. HOUSING IS BAD ALL OVER THE UNITED STATES. We have "japanitis". It is the same malady that hit the Japanese in the eighties. A housing bubble that busted and a government that has propped up the "zombie banks". It is going to take as long for us to recover as it will the Japanese, and I don't think that they are fully recovered yet.

In 2005, I bought a house built in 1985, the nicest cheapest house that could be found in the ft myers fl area. 875 square ft, for $180,000. The reason I bought was for pure existance! Unable to rent, because of all the greedy people flipping houses, there was nothing to rent. Even apartment buildings were selling there cheesey apartments as "condos"!? Due to economic reasons, the house is now being short saled for a whopping $24,000.Come on now! Even doctors and lawyers, as rich as they are, are forclosing and short saling their houses, related to "bad investments"! I'm surprised that Ft. Myers is not on the top of the list! A house that was once sold for 180,000 now being sold for 24,000?

I think homes are still way overpriced. FYI, I have always considered myself an independent so this is not coming from a Republican or Democrat. The government has been doing everything it can to keep home prices high and interest low to get people to buy homes. However, most people have wised up and they know not to sink their money into a depreciating long term asset. Instead of letting market forces naturally drive the price to the level they should be at, these bankers have gotten the government to keep the values high because if they dropped too far, people would walk away and force the banks to sell at lower cost. The government is not trying to HELP you stay in your home. They are doing everything they can to HELP the banks recoup their investment and eventually make profit. However, all they are really doing at the end of the day is delaying the inevitable. If unemployment (and wages) stay stagnant as it is now, there will not be enough buyers for these homes on the market and the prices will drop either way because taxes (and maintenance) still have to be payed on them by someone. So, unless the value of the home rises at a pace faster than property tax increases and maintenance costs, the banks lose over the long run. The best thing the government can do is to allow interest rates to rise as they naturally should have after printing all that additional currency. By doing so, you would strengthen the dollar and encourage investment. There are many people out there with money just waiting so badly for an opportunity to buy a house and they have the cash to do it. But they will not buy one until the government allows natural market forces to dictate the price. I am not alone in this way of thinking. You can fool some of the people some of the time, but you cannot fool all the people all the time.

Housing is UP 20% in Metro San Jose...IPOs provide the juice to goose those mini-estate prices! The sheep that bought at the top are now sausage. Discipline...buy low. Bubbles have been around for centuries. Did anyone think that Ninja loans would lead to anything but disaster? NO!
Of course, many never thought. The grifters pushing the ninja loans got paid up front and had NO skin in the game. Why have the crooked rating agencies escaped the gallows for their complicity in the SCAM? Could it be the revolving door between Wall Street, K Street, and CONgress?