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This map has 40 Places  
Houston, TX price corrections
Houston City Hall (shown on map & link above) ...
by realestatecafe
Boston, MA price corrections
Boston City Hall (shown on map, website on link...
by realestatecafe
Denver, CO price correction
Denver City Hall (shown on map, website on link...
by realestatecafe
San Diego, CA price correction
San Diego City Hall (shown on map and link abov...
by realestatecafe
San Jose, CA price correction
San Jose City Hall (shown on map, website on li...
by realestatecafe
Providence, RI price correction
Providence City Hall (shown on map and on link ...
by realestatecafe
Manchester, NH price correction
Manchester City Hall (shown on map and on link ...
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Norwich, CT price correction
Norwich City Hall (shown on map and on link abo...
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Barnstable, MA price corrections
Barnstable Town Hall (shown on map, website on ...
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San Francisco, CA price corrections
San Francisco City Hall (shown on map, website ...
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Los Angeles, CA price corrections
Los Angeles City Hall (shown on map, website on...
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Dallas, TX price correction
Dallas City Hall (shown on map, website on link...
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Cambridge, MA price correction
Cambridge City Hall (shown on map, website on l...
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Riverside, CA price correction
Riverside City Hall (shown on map and on link a...
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Oklahoma City, OK price correction
Oklahoma City Hall (shown on map and on link ab...
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Lafayette, LA price correction
Lafayette Consolidated Goverment (shown on map ...
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Casper, WY price correction
Casper, Wyoming (shown on map and on link above...
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College Station, TX price correction
College Station City Hall (shown on map and on ...
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Anchorage, AK price correction
PAST HOUSING PRICE CORRECTION Price decline: 3...
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Honolulu, HI price correction
City & County of Honolulu (shown on map and on ...
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New Orleans, LA price correction
New Orleans City Hall (shown on map and on link...
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Bridgeport, CT price correction
Bridgeport City Hall (shown on map and on link ...
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Poughkeepsie, NY price correction
Poughkeepsie Civic Center (shown on map and on ...
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Portland, ME price correction
City Hall of Portand (shown on map and on link ...
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Springfield, MA price correction
Springfield City Hall (shown on map and on link...
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Worcester, MA price correction
Worcester City Hall (shown on map and on link a...
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Odessa, TX price correction
Odessa City Hall (shown on map and on link abov...
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Beaumont, TX price correction
Beaumont City Hall (shown on map and on link ab...
by realestatecafe
Shreveport, LA price correction
Shreveport City Hall (shown on map and on link ...
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Baton Rouge, LA price correction
Shreveport City Hall (shown on map and on link ...
by realestatecafe
Amarillo, TX price correction
Amarillo City Hall (shown on map and on link ab...
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Billings, MT price correction
Billings City Hall (shown on map and on link ab...
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San Antonia, TX price correction
San Antonio City Hall (shown on map and on link...
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Corpus Christi, TX price correction
Corpus Christi City Hall (shown on map and on l...
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Farmington, NM price correction
Farmington City Hall (shown on map and on link ...
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Hartford, CT price correction
Hartford City Hall (shown on map and on link ab...
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Binghamton, NY price correction
Binghamton City Hall (shown on map and on link ...
by realestatecafe
Hattiesburg, MS price correction
Hattiesburg City Hall (shown on map and on link...
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Trenton, NJ price correction
Trenton City Hall (shown on map and on link abo...
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Edison, NJ price correction
Edison Municipal Complex (shown on map and on l...
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Map Details:
Past Housing Price Corrections
National City Corp and Global Insight, the source of this data, define "housing price corrections" as declines of at least 10 percent over two years. The goal of this interactive map, which currently shows 40 of 66 cities impacted, is to help protect homebuyers by showing local price corrections in a national, historic context. If you were hurt by a previous housing downturn, please click on (or add) the appropriate city to the map and tell your story. If you'd prefer to talk rather than type, call our record a podcast line: 617-661-4046. Here's an example of lessons learned from riding two real estate cycles: http://tinyurl.com/s8nmx A twin map of "Overvalued housing markets" is available by clicking RealEstateCafe above, or cutting and pasting this link: http://platial.com/realestatecafe/map/7060 HOUSING BUBBLE CORRECTION COULD BE SEVERE U.S. News & World Report (6/13/06) "In the first quarter [of 2006], home prices nationwide rose an additional 7.3 percent, according to a joint study by the financial services firm National City Corp. and the research firm Global Insight. As a result, there are now 71 metropolitan areas–representing nearly 40 percent of all single-family homes–that can be classified as "extremely overvalued," according to the study. By comparison, only 64 metro regions were considered frothy at the end of last year and only 1 percent were classified as such in the first quarter of 2004." "The fact that this number of metro areas – representing such a large percent of the total single family market–is extremely overvalued should be a cause for concern," said Richard DeKaser, chief economist for National City. The bottom line: Real estate prices eventually correct themselves. And unfortunately for homeowners, it often takes years before home prices start to rise again, especially after a big run up. National City recently studied 66 major metro regions over the past 21 years that suffered through a 10 percent or greater decline in prices for at least a two-year period of time. It found that home prices, once they begin to correct, tend to decline 17 percent on average before markets heal themselves. "And the average duration of these adjustments is 3.5 years," says DeKaser. FULL TEXT: http://tinyurl.com/gdozq DEFINITION: Valuations in excess of 34% are classified as "extremely overvalued." A complete ranking of overvalued and undervalued housing markets, as well as past price declines and duration of market corrections are available in PDF form from the link below: FULL REPORT: Overvalued Housing Market? Depends Where You Live Most Overvalued, Most Undervalued of the 317 Largest U.S. Metro Areas Examined http://www.globalinsight.com/Highlight/HighlightDetail2350.htm
Map Stats:
This map contains 40 places and has been viewed 4785 times. This is a closed map.



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