![]() ![]() California also took it on the chin, particularly Riverside, Los Angeles, San Diego, and San Francisco.īut now turn your attention to the upper left portion of the graph. Other markets that experienced difficulties were the Florida Big 4: Miami, Tampa, Orlando, and Jacksonville. Nearby Phoenix also had a tough go of it, registering a 53% drop. The typical price of a home in the Sin City fell from $357k in 2007 all the way down to $135k in 2012, a ridiculous 63% decline. ![]() Meanwhile, some cities in the Midwest Rust Belt barely registered a blip.Ĭities like Phoenix and Orlando had 50% price declines from 2007-12. While the US average price went down by 25%, losses were double that in many southwest markets. The sheer difference in how housing markets across the US reacted to the last bust is astounding. How did the 2007-12 Housing Crash have such an unequal impact on cities across the country? And what can we learn from these differences about the cities home buyers and real estate investors should be TARGETING and AVOIDING in the 2021 Bubble? Read below to find out! Others actually GAINED value during the worst national housing crash in US history. Some cities even witnessed shocking 50% declines! But…other cities were spared, experiencing modest declines of 5-10% in value. The US Housing Market cratered, losing 25% of its value in aggregate from 2007 to 2012. Of course, we all know what happened soon after. ![]() Many pundits and headlines claiming that growth was legitimate because of housing shortages and demographic shifts. Jaw-dropping, double-digit annual price increases. …Back in 2005 the state of the real estate market looked very similar to today. The combination of these factors is making the 2021 Housing Bubble look eerily similar to a time in the not so distant past… Families are being priced out of homeownership, often by out of town investors and cash buyers. This combination is putting significant stress on the US Housing Market. ![]()
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