Property Prices will stabilize in LA and Phoenix in 2010, while values will FALL further in Miami and NY »
Posted By jeffieny 10 months ago in NewsJan. 6 (Bloomberg) -- Foreclosure sales in the 25 largest
U.S. metropolitan areas almost tripled in the first 10 months of
last year as rising unemployment and falling home values made it
tougher for homeowners to sell or refinance their mortgages. Investors are betting that home prices will continue to decline nationally through 2010, Radar Logic said. Prices will stabilize in Los Angeles and Phoenix in 2010, while values will fall further in Miami and New York, the data company said. “We’re expecting further pain in New York due to further pain in the financial services industry,” Feder said.
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