he remainder of 2007 and Arizona which market has long
part of 2008 will be the been recognized as a leader in
best time to get a bargain loan fraud is second to Sin City
in the U.S. housing market, in subprime foreclosures and
according to Housing Predictor. prices are falling in wake of the
The sub-prime loan crisis has crisis.
produced the highest number of
foreclosures since the U.S. Housing Predictor forecasts more
Savings and Loan Fraud Crisis than 250 local housing markets in
more than 15 years ago, providing all 50 U.S. states. However,
the largest inventory of bargain despite the subprime crisis many
homes in years in many markets scattered from the
metropolitan areas of the nation. pacific north-west to the south
remain with healthy sales
Some real estate markets located activity including Texas, New
in Southern California, South Mexico, Oregon and Washington.
Florida and Nevada among other
states have seen closing prices The over supply of homes and
drop drastically from their peaks condos is making a major impact
as a result of the subprime loan on some local economies in
debacle. California, Florida,
Massachusetts, and Nevada among
Las Vegas, Nevada is the new others. According to real estate
epicenter of the subprime loan analysts it will take years for
crisis with more than 40% of all markets in many areas of the
homes and condos on the market nation to return to healthy
for sale vacant. More subprime levels. Investors are flocking to
loan foreclosures are underway in some markets in these states to
Las Vegas than any other urban make purchases of foreclosures.
center in the nation. Phoenix, Housing Predictor’s Worst 25
housing markets is where subprime mortgages.
consumers can get some of the
best deals in today’s market
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About the Author:
Mike Colpitts is the Editor of Housing Predictor. Check housing market forecasts in all 50 U.S. states, search real estate listings and foreclosures at http://www.housingpredictor.com
