I was just reading an October 2008 research report by The Center for Economic and Policy Research and The National Low Income Housing Coalition, "The Changing Prospects for Building Home Equity. An Updated Analysis of Rents and the Price of Housing in 100 Metropolitan Areas" by Hye Jin Rho, Danilo Pelletiere, and Dean Baker.
Since the Philadelphia-Camden-Wilmington, tri-state market isn't included in the Case-Schiller index, we don't enjoy the detailed analysis of our market that other markets have. This report was great. The research shows that based on current rental values as compared to home values (a good indicator of a healthy real estate market), in our area we can expect some appreciation in home values over the next four years. This is in contrast to many markets, like the Northern NJ market, which is expected to decline substantially.
This is great news for home buyers in the Southern New Jersey area!
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