That’s the opening statement in the article in MSN Money. Funny, though, they go on to say that home prices haven’t been this low since 1994. Now, I didn’t major in math, but ‘94 till now doesn’t seem like 20 years. You do the math. Maybe there’s something I’m missing.
The article goes on to show that 131 of 287 cities are in decline, some of them in a steep decline. They cite a lot of statistics to show that things are unlikely to rebound any time soon. In all fairness, though, they do report housing booms still going on in Washington, Utah, and Texas. They also cite Colorado as growing, but I’ve been to Denver recently and seen whole neighborhoods for sale. That doesn’t sound like a boom to me.
At any rate, you can read the whole article by clicking here. Be sure to go to the second page of the article where you can click on the link of all the nearly 300 cities and see where you stand. This is a quick read and worth the time.
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