he Worst 25 housing fallout to deal with as a result
markets in America are an of its boom in population.
indication that many
markets throughout the nation are Due to a market that has had what
beginning to show signs of is now the greatest over building
stabilizing, despite the nation’s of condominium units in the
near record increase in nation’s history and its
foreclosures due to the subprime resulting slow down Miami,
loan crisis at the mid-way point Florida remains at the top of the
of 2007, according to the latest Worst 25 market list. More than
Housing Predictor assessment. 15,000 condominium reservations
have been cancelled or withdrawn
Housing Predictor forecasts more in the last 18 months and the
than 250 local housing markets in market continues to depreciate at
all 50 U.S. states and annually an accelerated speed, which will
forecasts the Top 25 housing last well into 2008.
markets and the Worst 25 markets
in the nation, and then The Miami market is the epicenter
reassesses both lists at of the nation’s housing slow
mid-year. down, but not all Florida markets
are suffering from such over
The Worst 25 markets have changed building woes. Florida real
little since the beginning of the estate markets in some areas are
year with few exceptions. San beginning to show strong signs of
Diego, California, which was stabilizing.
selected in January to be the
second worst market in the Las Vegas has taken a hit from
country has slipped to third its rapidly flying appreciation
behind Los Angeles, which has and now more than 40% of the
more foreclosures from subprime inventory of homes for sale on
the market are vacant, awaiting more foreclosures per-capita than
new owners, many of whom will buy anywhere else in the nation. The
their dream home at a discount at motor city is now in the top five
foreclosure prices. Sin City has worst markets.
moved up to fourth on the Worst
25 list. Still just 12 states local
housing markets are among the
Michigan is experiencing an all Worst 25 markets, indicating a
out housing recession due to job growing trend that many markets
losses in the hard hit U.S. auto throughout the nation are
industry, and many in the Great beginning to stabilize after
Lakes region are even leaving the record years of appreciation in
keys on the counter of their many states.
homes as they exit the state for
greener pastures. Detroit has
About the Author:
Mike Colpitts is the Editor of Housing Predictor. To see the Worst 25 markets or the Top 25 markets and check on your markets forecast visit http://www.housingpredictor.com
Read more articles by:
Mike Colpitts
Article Source: www.iSnare.com 
