10 Hard-Hit Housing Markets That Are Ready to Rebound

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Esp his comment "Is is almost as if the real estate industry is planting articles in the hopes of creating a false sense of promise in these markets." As for Martha of Claifornia - "It's nice to have people of integrity selling you a house." - Martha, if you find that rare breed in the the real estate market, please give me a call. A lot of people "crapped up" the market over a 5 year period. Don't expect any broad based recovery soon. Anybody go through a bank loan process lately?

Paul E of PA 6:51PM November 07, 2009

With the growing unemployment, which is not really only 10.2% but more like 17.5%+, it is diffucult to forecast an early recovery in housing anywhere. Is is almost as if the real estate industry is planting articles in the hopes of creating a false sense of promise in these markets. The reality is that the national banks are in much deeper trouble than the public has been led to believe due to derivatives that have little if any residual value. The banks are slow to lend because they realize that the financial debacle is far from over.
With the next wave of growing unemployment will come another fall in the markets coupled with horrible retail sales over the holidays, failing commercial mortgages, failing prime mortgages and finally faltering credit card debt. The government is doing everything it can to create "reinflation" but high unemployment is destroying demand to quickly as 70% of GDP is directly dependent upon consumer spending. Consumers are less likely to resume spending while housing values decline and they are afraid of losing their employment as employers cut payroll in order to protect earnings. Surely, an unfortunate time for this country. Good luck to all.

Richard of NV 3:37PM November 06, 2009

WE WILL NEVER SEE A FULL RECOVERY. HOUSING WAS NEVER MEANT TO BE AN INVESTMENT ASSET. IT GOT OUT OF CONTROL AND THOSE HIGHT WILL NEVER BE SEEN AGAIN. I WAS OFFERED A $700000 MORTGAGE FOR A $600000 HOUSE. THE EXTRA $100000 I WAS TOLD BY THE BANK OFFICIAL WAS FOR A NEW CAR AND HOME IMPROVEMENTS. NO MONEY DOWN! NO WONDER WE ARE IN A RECESSION!

RICHARD of NV 2:39AM November 06, 2009

Thankful that the HOBBY realtors have lost interest. It's nice to have people of integrity selling you a house.

Martha of CA 10:38PM October 27, 2009

I think this list reflects the same sunny optimism that drove the bubble. The economic factors that forced the bursting of this bubble still haven't finished playing out, and any temporary bump in prices cannot change the fact that homes continue to be far too overpriced for the market.
Note these predictions are for rebounds 3-5 years out. What will happen in the meantime?

Russ of CA 6:27PM October 09, 2009

Born and raised in Cali. I expected the list to be a lot worse for California. The only good thing about this market is that most of the Realtors that were looking to make a "Fast Buck" have left the market leaving the die hards in the market. That is a good thing!!!!!

Aurora Trevino of CA 12:18AM October 07, 2009

To those in the northeast who want to remain in the area-- take a look at Monroe Twp. NJ. Yes, New Jersey. It's a beautiful rural area with quite a few 55+ communities. Countrified, yet very close to culture, shopping, etc. There is no evidence of urban blight or problems connected with large populated areas. The quality of life is excellent and you don't have to leave your kids, friends of 30+yrs.

Steven Rbiack of NJ 4:14PM October 06, 2009

I too am curious about bounce back time for Las Vegas in particular?

Michael of WA 12:24PM October 06, 2009

I am a Realtor in Minneapolis and the Minneapolis Market has already bounced back more than what you are talking about in this article. Moodys Economy? And when pray tell did they become real estate experts?? I think you should look to your source's accuracy before publishing articles that are sogrim, inaccurate and can only serve to worsen an already grim situation that is actually improving. In fact, we are now hard pressed in Minnepolis to find our buyers suitable properties. I wonder what on earth you are talking about.

Sharol Ulrich of MN 12:03AM October 06, 2009

What about Phoenix, AZ, Las Vegas, NV, Tucson, AZ? Otherwise, what great joy the market might recover somewhat in 3-5 years. At 71 it's pretty obvious I'll never recover my original investment in a home in an "Active Adult" community that I purchased in 2006. Any more good news?

R. J. Anderson of AZ 5:26PM October 05, 2009