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10 Worst Real Estate Markets for 2009
The housing market hasn't bottomed out yet. For the third quarter, the closely-watched S&P Case-Shiller national home-price index fell 16.6%, and experts are predicting further declines. Of the top 100 markets, here are 10 with the worst forecasts.
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1. Los Angeles
2008 median house price: $375,340
2009 projected change: -24.9%
2010 projected change: -5.1%
The median home price in the L.A.-Long Beach-Glendale metro area is projected to fall nearly 25% in 2009 - the biggest drop in the country.
 Courtesy: Stockton CVE |
2. Stockton, Calif.
2008 median house price: $248,050
2009 projected change: -24.7%
2010 projected change: -4.0%
3. Riverside, Calif.
2008 median house price: $256,540
2009 projected change: -23.3%
2010 projected change: -4.8%
 AP Photo |
4. Miami-Miami Beach
2008 median house price: $293,590
2009 projected change: -22.8%
2010 projected change: -6.4%
Miami will be nursing the hangover from its epic building boom for years to come. After falling 22% in 2008, prices are predicted to plunge another 23% next year.
5. Sacramento
2008 median house price: $225,140
2009 projected change: -22.2%
2010 projected change: 2.3%
 AP Photo/Joan C. Fahrenthold |
6. Santa Ana-Anaheim
2008 median house price: $532,810
2009 projected change: -22.0%
2010 projected change: -3.5%
7. Fresno
2008 median house price: $257,170
2009 projected change: -21.6%
2010 projected change: -3.3%
 BusinessFacilities.com |
8. San Diego
2008 median house price: $412,490
2009 projected change: -21.1%
2010 projected change: -2.9%
9. Bakersfield, Calif.
2008 median house price: $227,270
2009 projected change: -20.9%
2010 projected change: -2.5%
 AP Photo/J. Scott Applewhite |
10. Washington, D.C.
2008 median house price: $343,160
2009 projected change: -19.9%
2010 projected change: -5.7%
Rates
See today's average rates across the country.
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Loan Type Today Last Week 30 Year Fixed 4.99% 4.93% 15 Year Fixed 4.55% 4.53% 1 Year ARM 3.92% 3.90% 30 Year Fixed Jumbo 5.82% 5.99% 5/1 ARM 4.39% 4.19% 3/1 ARM 4.96% 4.74% Source: Bankrate -
Loan Type Today Last Week $30K Home Equity Loan 8.32% 8.35% $50K Home Equity Loan 8.19% 8.20% $75K Home Equity Loan 8.22% 8.23% $30K HELOC 5.20% 5.22% $50K HELOC 4.93% 4.95% $75K HELOC 4.93% 4.95% Source: Bankrate -
Loan Type Today Last Week 36 Month New Car Loan 6.72% 6.66% 48 Month New Car Loan 6.83% 6.78% 60 Month New Car Loan 6.88% 6.82% 72 Month New Car Loan 6.12% 6.12% 36 Month Used Car Loan 7.18% 7.16% 48 Month Used Car Loan 7.04% 7.00% Source: Bankrate -
Card Type Today Last Week Business Credit Cards 9.74% 9.74% Low Interest Credit Cards 11.65% 11.65% Cash Back Credit Cards 12.08% 12.08% Balance Transfer Credit Cards 12.13% 12.13% Reward Credit Cards 13.29% 13.29% Instant Approval Credit Cards 13.32% 13.32% Source: CreditCards.com
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