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10 Worst Housing Markets in 2009

Real estate news has kind of been buried in the news lately as other economic issues have been dominating the headlines. Not much has changed on the housing front, as experts predict the fragile market to suffer further declines in the new year. Out of the 100 top real estate markets, experts have selected the ten cities anticipated to have the worst declines.

If you live in these places, you might have to hold on to your home a while longer, and if you're thinking of moving, next year could bring some more affordable deals. See the list of the ten worst real estate markets in 2009 when you

.

  1. Los Angeles, CA: 2009 projected change is -24.9 percent.
  2. Stockton, CA: 2009 projected change is -24.7 percent.
  3. Riverside, CA: 2009 projected change is -23.3 percent.
  4. Miami, FL: 2009 projected change is 22.8 percent.
  5. Sacramento, CA: 2009 projected change is -22.2 percent.
  6. Santa Ana - Anaheim, CA: 2009 projected change is -22.0 percent.
  7. Fresno, CA: 2009 projected change is -21.6 percent.
  8. San Diego, CA: 2009 projected change is -21.1 percent.
  9. Bakersfield, CA: 2009 projected change is -20.9 percent.
  10. Washington, D.C.: 2009 projected change is -19.9 percent.

Source

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Spectra Spectra 7 years
I kind of figured most of those cities would be in CA. One of my cousins lives in San Francisco and another of my cousins lives in San Diego...they both tell me that housing prices are through the roof out there. As far as the most affordable housing markets, I would think a lot of Midwestern cities would be up there...in most of Wisconsin, you can get a nice house for under $200K and you can get a little starter house for $100K or less. It's really amazing how affordable it is to live here.
Cassandra57 Cassandra57 7 years
Go, Cali, topping the lists again! Unfortunately, not the right lists.... Fortunately, we've been in our home long enough that we're still ahead. Zillow shows the value at a bit over three times what we paid. There's a house on our block, 2 br, 1 ba, 768 sq ft, which shows a value of $332,000. Probably a minimum of 60 years old; more likely 80. How sensible is that? For your amusement: http://www.zillow.com/homes/map/90210_rb/#/homes/for_sale/map/90210_rb/34.090748,-118.405905,34.08886,-118.410706_rect/17_zm/
Punk-Glam-Queen Punk-Glam-Queen 7 years
Its horrid that people paid such inflated prices and now will have to wait goodness knows how long before they can recoup their investment. 6 months after we purchased our home in NY, the market value had DOUBLED. Sick. OTOH, hopefully things will come back down to earth and we'll see more realistic home prices.
Beauty Beauty 7 years
Wow, I knew CA was in bad shape, but yowza! I'm so glad I didn't buy a place (in Chicago) a few years ago. Renters FTW!
verily verily 7 years
I was completely unsurprised to see most of the listed places were in California. They're always the worst. Is there a Best list? I'd guess it'd be nothing but Southern cities.
syako syako 7 years
I was about to say the same thing Renee, it's all these places where the housing prices were ridiculous over inflated. Time to come back down to Earth.
Renees3 Renees3 7 years
Even at low prices most of california is over priced. We just bought our first home here and for the same price we could've gotten a much bigger house elsewhere. But I doubt I'll ever move out of state!
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