Report: LA Prices to Drop Less Than 5% Over Two Years

Yes, I comb the news on your behalf, and behind the screaming headlines one will find data that shows how stable our market is, despite the hype. Read the entire article and check out the chart at the bottom. I would expect that our suburban areas will maintain value. Besides everyone needs a place to live, plus renters get a puny tax benefit compared to owners. ~~Ray

Prices in 100 U.S. Cities ExpectedTo Decline for Next Few Years

By James R. Hagerty and Anjali Athavaley
From The Wall Street Journal Online

Home buyers have another reason to sit on their hands.

In the latest news from the slumping U.S. housing market, a report released this week says that median house prices are likely to decline more than 10% over the next few years in 20 metro areas, including Las Vegas, Tucson, Ariz., and Washington, D.C.

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