americanaspiration

Housing Crash Is Hitting Cities Once Thought to Be Stable

In News on February 14, 2011 at 3:11 pm

The New York Times is repoirting today that:

In the last year, home prices in Seattle had a bigger decline than in Las Vegas. Minneapolis dropped more than Miami, and Atlanta fared worse than Phoenix.

The bad news is that there are few, if any safe spots in the country.

The good news is that as more cities feel the pain, the reality becomes more clear, that this crisis is not a over-speculation bubble in a few geographically isolated markets. The reality is that this crisis is a the result of a market wide fraud that has had deep implications throughout the country.

Read More:
http://www.cnbc.com/id/41574051

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