Click for interactive chart:

Source: NYT


Source: WSJ


Category: Markets, Real Estate

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9 Responses to “Housing’s Rise and Fall in 20 Cities”

  1. BennyProfane says:

    Always have a problem with these charts that tell me that Americans own so many stocks. Most of those equities are either held by public pension funds and the top 10%. Half of Americans would be in a soup kitchen if they lost their job tomorrow, and half of the other half probably have, at the most, 30,000 in total savings.

  2. leonardcrook says:

    What is most interesting are the cities that saw little run up in the first place: Denver, Dallas, Charlotte. I wonder why? I expected that for Detroit (which declined seriously having never risen) or Cleveland, but not the others.

  3. [...] More signs the housing recovery is in place.  (Bonddad Blog, Sober Look,  Big Picture) [...]

  4. BennyProfane says:

    Denver had it’s own little crash around 2000, after the dot com ting, and, more important, telecom went south. Dallas is in, of course, Texas, which is a state that makes it very hard for their residents to take out home equity loans, and, of course, home to energy companies, which have done quite well during the last decade. Charlotte? Government supported banking industry.

  5. Frwip says:

    ‘Old’ stuff, from last week in BI but I think Gary Shilling made interesting points against a bottom in prices. Not done yet.

    Slide 2 and 8 are interesting. “Vacant units held off the market for other reasons”. 4 millions units in limbo and 2 millions excess units… That’s a lot. And demographics are pointing towards a contraction in the number of house owners, at least for suburban single units.

    PS: Personally, I’m betting on some degree of price stabilization and a a decade-long hard slog for the market to really go back to normal. And beyond that, all real estate is local so broad national measures or even metro areas go only so far.

  6. Mike in Nola says:

    Nice comment from Steffy on pensions:

    I’ve found most of his stuff pretty insightful.

  7. nickthap says:

    Is it me, or is it fishy that, for example, DC’s index is 92% up from 2000? Unless DC was very undervalued, that increase still seems “bubblicious” to me.

  8. BuildingCom says:

    Resale housing asking prices are still at 2004 levels. Essentially, asking prices are many many tens of thousands overpriced. It’s a long way down from here.

  9. Dima says:

    Dallas – no run up as it was the test case for the housing bubble back during the 1980′s S&L crisis. Many people who bought homes at the peak during the late 1980′s were underwater until about – oh – 2005. Hard to raise prices when half the people had lost homes in foreclosure and the other half were smarting because their homes were still valued at less than what they paid for them. All the banks that created the S&L crisis were shut down also and people went to jail. Those of us living in Dallas all watched the housing bubble with disbelief and with the knowledge that it would end badly – living through a real estate bubble is something not soon forgotten.