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Description:
Corpus Christi City Hall (shown on map and on link above)

PAST HOUSING PRICE CORRECTION
Price decline: 19%
Duration: 3 years (12 quarters)
Period: 1986Q2-1989Q1
Overvaluation prior to price correction: 43%
Valuation peak: 1986Q2

CURRENT VALUATION: 2006Q1
See report below, and add data to this map or your own

Source: 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

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If you owned property in Corpus Christi (or another city) during this price correction or another downcycle, please post comments below. Better yet, ADD the location of your former property to this map and tell your story so others can learn from your experience. Here's a podcast of lessons learned from riding two real estate cycles:
http://tinyurl.com/s8nmx

Our goal is to protect potential homebuyers, particularly those contemplating risky loans in overvalued housing markets, from making costly mistakes. If you were harmed by a previous real estate price correction: (1) what advice would you give to someone buying a home now, and (2) what should they know about the current housing market? If price corrections are already underway locally, post your comments or locations of properties on this map:
http://www.platial.com/realestatecafe/map/7060

If you are househunting outside Massachusetts, The Real Estate Cafe would be glad to refer you to an exclusive buyer agent -- perhaps one contributing to this map -- and rebate one-third of our referral fee (where allowed by law). We'll donate the other third to help save lives or provide shelter subsidies for AIDS orphans. Did you know there are more than 15 million AIDS orphans worldwide?

http://tinyurl.com/kl5nc

If you are not in the housing market yourself, you can help friends save money AND save lives by emailing this link to anyone buying (or selling) a home. Alternatively, ask them to visit http://www.realestatecafe.blogs.com, email RECafe@mac.com, or call us at 617-661-4046.

Photos:

Maps:

Past Housing Price Corrections

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