Cities where housing set to rebound?

[Orchidflower]

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....

 

[jIMOh]

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][FONT=&quot][COLOR=#005497 ! important][FONT=&quot]San [/FONT][COLOR=#005497 ! important][FONT=&quot]Diego[/FONT][/COLOR][/FONT][/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][FONT=&quot][COLOR=#005497 ! important][FONT=&quot]San [/FONT][COLOR=#005497 ! important][FONT=&quot]Francisco[/FONT][/COLOR][/FONT][/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][FONT=&quot][COLOR=#005497 ! important][FONT=&quot]Worcester[/FONT][/FONT][/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][FONT=&quot][COLOR=#005497 ! important][FONT=&quot]Chicago[/FONT][/FONT][/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.

 

[Orchidflower]

I'm really curious if this is a real list or just more throw-together junk like so many lists are lately...

 

[jIMOh]

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.

 

[Buckeye]

Seems like someone has one heck of a crystal ball to make those projections that far out.

 

[Fantasm]

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.

 

[Orchidflower]

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_estate/most_overvalued_metro_areas/

 

[travelover]

Ironically, Warren is where GM's technical and engineering center is.

 

[Helen]

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.

 

[Fantasm]

Unless you need the money desperately (and even then...) I wouldn't sell your dad's property.

 

[Notmuchlonger]

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.

 

[plex]

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.

 

[kperkins]

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.