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A Look at Housing Prices in the Recession

Posted by: Nate Berg

24 July 2009 - 6:00am

These two posts from Richard Florida look at how housing is faring during the economic recession. He looks at home prices in 300 metro areas, and how things have changed between the peak in 2006 to today.

Florida goes beyond the 20 metropolitan areas covered by the Case-Shiller Home Price Index to give a more comprehensive look at the state of housing prices in U.S. Cities.

"Under-performers: These are regions where housing values have slipped even more than predicted. Among large metros, the under-performers include: Los Angeles (where values are off $79,789 more than expected based on the national trend), San Francisco (-$79,029), Las Vegas ($-72,421), Phoenix (-$69,897), and Miami (-$53,021)."

He also provides a graph in his second post showing how prices have changed since 2006, and which cities' changes were less than expected.

Full Story: Housing and the Crisis, Part I
Source: Creative Class Exchange, July 23, 2009
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