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Check out these 2010 real estate prices
Monday, December 22, 2008
It is not clear how they came up with these housing price forecasts over the next couple years in this Forbes article on the the nation's ten worst real estate markets.
It should be quite clear, however, that if these numbers are anywhere close to being accurate, things will be much, much worse in California before long.
5 comments:
I think those 2010 projections look a bit too optimistic
It's worth pointing out that November 2008 median sale prices in San Diego and Orange County (Santa Ana-Anaheim) were $305,000 and $400,000:
http://www.dqnews.com/News/California/Southern-CA/RRSCA081216.aspx
To meet these projections, prices will have to go UP in 2009 ...
Prices have dropped so much in 2008, you can get wildly different data depending on what source is used and what month you choose. Clearly, the current 2008 prices shown are a bit too high compared to the latest from DataQuick.
I agree with Tim. Is that the median or average price for 2008? Prices now have fallen so much that I suspect the actual median price for 2008 is much lower than what Forbes published for Washington DC.
And what about San Francisco?!?!? Just go to www.Patrick.net and there are virtually an infinite amount of articles from San Francisco area newspapers that are predicting a major real estate crash there.
Problem is median just tells you what people are paying, not what they are getting. 305 certainly doesn't get you much more than a condo in clairemont. It certainly still doesn't buy you a house in any part of San Diego most would want to live in.
Josh
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