"To get a clearer picture of how things may play out, FORTUNE turned to Moody's economy.com and home property-valuation service Fiserv CSW." The article is republished on CNN.
In the report lists expected price changes in the top 100 metro areas for 2006 and 2007. For example. Of the these 100 cities, they expect only 16 to have nominal price declines in 2006. Then in 2007, 38 metro areas are expected to have price declines.
In Bakersfield, they expect the median price which currently stands at $286,300 to fall by 0.80% in 2006 and 3.00% in 2007. That's laughable. Price declines will be much greater in Bakersfield, CA. Most of these predicted price declines are minimal (especially for 2006) . Bubble Meter is more bearish.
Tuesday, December 20, 2005
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