The Thirteen Housing Markets That Will Never Recover

1. Riverside, CA. Housing prices are down 52% and unemployment is at 18%
Joblessness 25%

2. Lansing, MI. Housing prices are off 38% and unemployment is 11.8%
Joblessness 19%

3. Palm Coast, FL. Housing prices down 63% and unemployment is 16%
Joblessness 23%

4. Sacramento, CA. Housing prices down 47% and unemployment is 17.5%
Joblessness 25%

5. Orlando, FL. Housing prices down 49% and unemployment is 15%
Joblessness 22%

6. Fort Meyers, FL. Housing prices are down 65% and unemployment is 14.2%
Joblessness 21%

7. Grand Rapids, MI. Housing prices are down 30% and unemployment is 14.3%.
Joblessness 21%

8. Reno, NV. Housing prices are down 44% and unemployment is 13.3%.
Joblessness 20%

9. Toledo, OH. Housing prices are down 30% and unemployment is 13%.
Joblessness 20%

10. Boise City, ID. Housing prices are down 34% and unemployment is 9.9%
Joblessness 17%

11. Rockford, IL. Housing prices are down 16% and unemployment is 17.9%
Joblessness 25%

12. Las Vegas, NV. Housing prices are down 51% and unemployment is 13.8%
Joblessness 21%

13. Providence, RI. Home prices down 27% and unemployment is 13.2%
Joblessness 20%

By: Douglas A. McIntyre
24/7 Wall St.
Sources: Home Prices: NAR
Unemployment: Bureau of Labor Statistics

Note: I added the joblessness rate for each city using the current national difference between unemployment rate of 9.9% and the joblessness rate of 17.1% and used the same relationship for each city. Using home price declines and unemployment rates paints a grim picture for these cities - and this is only a snapshot. The article’s title “...... Markets that Never will Recover”.

Please copy and send this to your contact lists. Don’t you think it is time for help for these markets?

Why not start with JOBS, JOBS and more JOBS first? As housing goes so goes the economy!