The Biggest Losers for 2009
Oh how the mighty have fallen.
According to Case-Shiller, the National Home Price Index dropped by an eye-popping 16.6% in the third quarter. While that’s not exactly cause for celebration, it could be worse. And if their predictions for 2009 are at all accurate, 2009 isn’t looking to be a banner year either – especially if you’re investing in California.
They’ve released their forecast for next year and 8 of the 10 biggest projected losers are in California. Here’s the list, along with their best guess for how much more the market is expected to drop:
1. Los Angeles, CA -24.9%
2. Stockton, CA -24.7%
3. Riverside, CA -23.3%
4. Miami, FL -22.8%
5. Sacramento, CA -22.2%
6. Santa Ana, CA -22.0%
7. Fresno, CA -21.6%
8. San Diego, CA -21.1%
9. Bakersfield, CA -20.9%
10. Washington, DC -19.9%
If you’re investing in any of these markets, you can still make money. Will it be a challenge? You betcha. Can it be done? Absolutely.
If you don’t want to fight as hard to make money, you might want to jump out of your own back yard for awhile. I know the grass always looks greener on the other side of the fence, but there are markets that look infinitely better right now.
The good news? You can invest where the numbers make more sense to you. Where you rest your head every night has never been less important than it is right now. So take a look around. There are local real estate markets that have a downright rosy outlook. Find those markets, do your homework, and invest to your heart’s content.
2009 will be a banner year. Stake your claim on the kind of future you’ve always dreamed of. There are millions of dollars just waiting to be made.
The gold rush is well under way. It’s not too late to grab your share. All the tools you need for your very own gold mine are available at www.REIconferences.com
Blessings!
Charrissa Cawley
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