In several cities and states across the United States it has been predicted that the housing market will get worse. Some cities are believed to have as much as a 50% drop in the market. Some experts say it could take about four years before the housing market starts to go back up again. Specific cities that will be experiencing the worst housing sales include Sacramento, California and Las Vegas, Nevada.

Sacramento has one of the largest amounts of foreclosures in the country. They continue to suffer with homes selling for less than 35% of their value. It may be a great time to buy but it is the worst time to sell. The loss doesn’t only affect the specific person selling but also all of the homes on the block and in the area. It brings the value of all the homes down. California has other areas such as Riverside and San Diego that have experienced similar problems with a drop of a little more than 25%. In other areas in California, with smaller cities, there are steeper drops that almost hit 40% including Stockton, Modesto, and Bakersfield.

Outside of California there is Phoenix, Arizona and Las Vegas, Nevada that are looking at about a 20% drop in the homes’ worth. Florida has two cities, West Palm Beach and Cape Coral, that are suffering worse than California with at least a 35% drop in the value of homes. They anticipate that percentage to increase to 50%.

This is the worst drop in the housing market to occur during any post-war period in history. We have never experienced such a hard drop so quickly, with relatively no answers, in the history of this country. There needs to be something done to help these cities, towns, and these people. Too many are losing their homes and if they’re not losing their home, they are losing money. Then in turn, everyone around the area gets affected as well. It is a trickle effect that needs to be stopped soon.

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