Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Cities where housing set to rebound?
Old 02-09-2010, 11:29 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
Cities where housing set to rebound?

I found this US News article recently and have been mulling it over. Since I haven't been in hardly any of these cities (except Chicago where I lived a long time), does anyone have any opinion about the cities on this list? Or should other cities have been added?
10 Hard-Hit Housing Markets That Are Ready to Rebound - US News and World Report

Warren, Michigan, really threw me and I even had to look it up. There must be tons of other cities...and I surely wonder where the rebound in housing will be at this time...hmmmm....
__________________

__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
Orchidflower is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-09-2010, 11:51 AM   #2
Thinks s/he gets paid by the post
jIMOh's Avatar
 
Join Date: Apr 2007
Location: Milford, OH
Posts: 2,085
Quote:
  1. Tacoma, Wash.: Home prices in Tacoma are projected to increase 22 percent by the first quarter of 2012 and 41 percent by the first quarter of 2014.
  2. San Diego: Home prices in [COLOR=#005497 ! important][COLOR=#005497 ! important]San [COLOR=#005497 ! important]Diego[/COLOR][/COLOR][/COLOR] are projected to increase 13 percent by the first quarter of 2012 and 25 percent by the first quarter of 2014.
  3. San Francisco: Home prices in [COLOR=#005497 ! important][COLOR=#005497 ! important]San [COLOR=#005497 ! important]Francisco[/COLOR][/COLOR][/COLOR] are projected to increase about 12 percent by the first quarter of 2012 and 26 percent by the first quarter of 2014.
  4. Memphis: Home prices in Memphis are projected to increase about 9 percent by the first quarter of 2012 and 24 percent by the first quarter of 2014.
  5. Worcester, Mass.: Home prices in [COLOR=#005497 ! important][COLOR=#005497 ! important]Worcester[/COLOR][/COLOR] are projected to increase about 6 percent by the first quarter of 2012 and 21 percent by the first quarter of 2014.
  6. Warren, Mich.: Home prices in Warren are projected to increase about 5 percent by the first quarter of 2012 and 21 percent by the first quarter of 2014.
  7. Boston: Home prices in Boston are projected to increase about 3 percent by the first quarter of 2012, and 18 percent by the first quarter of 2014.
  8. Lansing, Mich.: Home prices in Lansing are projected to increase about 2 percent by the first quarter of 2012 and 15 percent by the first quarter of 2014.
  9. Chicago: Home prices in [COLOR=#005497 ! important][COLOR=#005497 ! important]Chicago[/COLOR][/COLOR]
    are projected to increase about 2 percent by the first quarter of 2012 and 16 percent by the first quarter of 2014.
  10. Minneapolis: Home prices in Minneapolis are projected to increase about 2 percent by the first quarter of 2012 and 16 percent by the first quarter of 2014.
I have lived by or worked by Lansing and Warren. Have not been to MI in about 3 years though... Lansing is state capital and had several automotive companies in close proximity, plus Michigan State. Warren is a Detroit suburb, but not sure exactly where, even though I know I've been there.

I have consulted in the Boston area- so I know where Boston and Worcester are, just don't know the RE in each area. I know there are plenty of health care companies/ manufactures in the area though.
__________________

__________________
Light travels faster than sound. That is why some people appear bright until you hear them speak. One person's stupidity is another person's job security.
jIMOh is offline   Reply With Quote
Old 02-09-2010, 12:31 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
I'm really curious if this is a real list or just more throw-together junk like so many lists are lately...
__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
Orchidflower is offline   Reply With Quote
Old 02-09-2010, 12:57 PM   #4
Thinks s/he gets paid by the post
jIMOh's Avatar
 
Join Date: Apr 2007
Location: Milford, OH
Posts: 2,085
I am sure person had numbers to project growth rates. Either based on employment shifts, retirees moving to area, housing starts or something.

Rebound implies a "drop" was needed, so what many of these areas have in common is they were hit hard by bubble and are starting to reverse that trend already is my guess.
__________________
Light travels faster than sound. That is why some people appear bright until you hear them speak. One person's stupidity is another person's job security.
jIMOh is offline   Reply With Quote
Old 02-13-2010, 09:46 PM   #5
Thinks s/he gets paid by the post
 
Join Date: May 2006
Location: Largo
Posts: 1,945
Seems like someone has one heck of a crystal ball to make those projections that far out.
__________________
Buckeye is offline   Reply With Quote
Old 02-14-2010, 03:43 AM   #6
Recycles dryer sheets
 
Join Date: Oct 2009
Location: Los Angeles
Posts: 50
CNN had a list recently which seems would be a bit more accurate as it had the city in which I have, and continue to buy investment homes on the list.

Vero Beach, FL was listed as one of the hardest hit cities and making a come back.

Get this... back in 07, my father purchased this house for $175K, sold it for $220K a few weeks later.
I bought the EXACT SAME house for $80K a few weeks ago, and its now appraised at $105K.
I have offers on 4 more houses in the area (different style from the $80K one), at $55K and $65K with rents approximately at $900/month in the current economy. Once market picks back up, these will be renting around $1200 again.
__________________
Fantasm is offline   Reply With Quote
Old 02-14-2010, 07:47 AM   #7
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
Couple years ago before the crash Vero Beach was listed as an up-and-comer. Panama City was, also, but haven't heard much about there so far the last year or so.

I did a little homework and came up with this link. Is this what you were referring to?

http://money.cnn.com/2010/01/27/real...d_metro_areas/
__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
Orchidflower is offline   Reply With Quote
Old 02-14-2010, 08:46 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,906
Ironically, Warren is where GM's technical and engineering center is.
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 02-14-2010, 10:22 AM   #9
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,354
My brother and I inherited 40 acres on a trout stream in mid Michigan. My brother doesn't want the property and I'm thinking of buying his share to hang on to. Part of my reasoning is emotional as my Dad bought the property in the early '40's; and we are going to spread my parents ashes there. But part is that I hate to sell it in this market.
__________________
Helen is online now   Reply With Quote
Old 02-14-2010, 01:54 PM   #10
Recycles dryer sheets
 
Join Date: Oct 2009
Location: Los Angeles
Posts: 50
Unless you need the money desperately (and even then...) I wouldn't sell your dad's property.
__________________
Fantasm is offline   Reply With Quote
Old 02-14-2010, 03:28 PM   #11
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Quote:
Originally Posted by Helen View Post
My brother and I inherited 40 acres on a trout stream in mid Michigan. My brother doesn't want the property and I'm thinking of buying his share to hang on to. Part of my reasoning is emotional as my Dad bought the property in the early '40's; and we are going to spread my parents ashes there. But part is that I hate to sell it in this market.

If you can afford it. Buy it and hang on. If you want the money to increase your standard of living go for it also.

If you are looking for what is the best answer.

I cant help you.
__________________
Notmuchlonger is offline   Reply With Quote
Old 02-14-2010, 06:57 PM   #12
Full time employment: Posting here.
 
Join Date: May 2008
Posts: 589
I would be vary wary of such projections, current unemployment rates is a key factor in how well an area will do in the near future, and unemployment is near 20% in Warren, MI, and happens to be in MI, where the unemployment rate is 14% overall (which most people know is the worst hit stay for unemployment by a long shot). Areas with very high unemployment don't just bounce back, a number of long term problems develop that take a long time to correct.

I am not sure what factors they used, but I hope it included current unemployment rates as part of the criteria. Also, the real estate market in that area may be reflecting those numbers (a huge price drop), but regardless, I would be careful.
__________________
plex is offline   Reply With Quote
Old 02-18-2010, 04:20 PM   #13
Confused about dryer sheets
 
Join Date: Feb 2010
Location: Ridgefield
Posts: 7
Look to the Left of your list in the original article...Related News....it has positive lists which I have looked at, Las Vegas NV but high crime rate due to unemployment, and Naples FL have decreaed very much in Price......
also, use www.city-data.com/ then the state and city like this ....www.city-data.com/Ca/san_Franciso.....to get lots of information on each city in the USA.
__________________

__________________
kperkins is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Favorite Cities Danny Other topics 12 10-25-2007 01:11 PM
Thw price of housing on Oahu set a new record honobob Other topics 1 07-10-2007 07:40 PM
Name Some US Cities With Rapid Transit? haha Health and Early Retirement 39 03-10-2007 02:22 PM
The Brainest Cities in The US. Danny Other topics 24 09-03-2006 03:39 PM
overpriced cities sgeeeee FIRE and Money 6 09-18-2004 06:21 PM

 

 
All times are GMT -6. The time now is 09:31 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.