The Case Shiller Index came out today, and it was not so good news for the entire country. It was a steep drop for most of the country. Luckily, Portland is still hanging on by the tips of our fingers. Take a look:
Rate = City
-1.8% = Charlotte
-2.5% = Dallas
-4.7% = Denver
-5.4% = Boston
-6.6% = Portland
-7.4% = New York
-7.8% = Cleveland
-8.2% = Seattle
-8.2% = Atlanta
-10.0% = Chicago
-13.1% = Minneapolis
-15.8% = Washington, D.C.
-16.7% = Detroit
-19.4% = Tampa
-24.8% = San Francisco
-25.0% = San Diego
-26.2% = Los Angeles
-28.2% = Miami
-29.3% = Phoenix
-29.9% = Las Vegas
I think that when the bail out eventually happens, lenders will be more willing to lend money to people. This will put more buyers in the market, which means home prices will stabalize some more. I just count my blessings that I am not in Souther Cali, Arizona, or Florida. For those of you who are in this states, hang on! It will all be over soon!
As my boss says, if you are still in this industry now, you really love it.
Hang on!
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