Nati, Cleveland UP!!!, CBus Flat As Rest of Nation Housing Drops (Columbus: to rent, house prices)

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Housing Woes - Fortune Magazine

Where housing is headed
Fortune’s exclusive calculations show that big declines are needed in markets around the country to bring home prices back to their historical relationship to rents.
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Home prices The P/R ratios The components «Click headings for details»
Here’s Fortune’s forecast for the value of an upscale home (one that sells for double the local median price) in five years.
House prices (thousands)
Metro area June 2007 Five-year projection
NATIONAL AVERAGE $436 $372
Orlando $522 $343
Miami $759 $514
East Bay, Calif. $1,562 $1,078
Tampa $444 $320
Baltimore $565 $408
Fort Lauderdale $731 $532
Palm Beach County, Fla. $760 $553
Las Vegas $611 $450
Sacramento $705 $521
Greater Washington, D.C. $856 $641
Los Angeles $1,107 $841
Jacksonville $393 $299
San Diego $1,211 $926
Long Island, N.Y. $947 $725
Phoenix $521 $399
Charlotte $406 $313
Norfolk $500 $387
Salt Lake City $464 $360
Richmond $462 $359
Orange County, Calif. $1,419 $1,104
Philadelphia $472 $370
Seattle $854 $687
Portland, Ore. $589 $476
North/Central N.J. $607 $512
Inland Empire, Calif. $791 $667
Milwaukee $445 $377
San Jose $1,669 $1,419
Raleigh $447 $381
New York $1,100 $950
San Antonio $302 $262
Atlanta $349 $305
Hartford $484 $433
San Francisco $1,732 $1,568
Honolulu $1,314 $1,204
Nashville $367 $342
Oklahoma City $256 $240
Denver $502 $474
Memphis $283 $269
Boston $834 $793
Austin $363 $347
Chicago $574 $550
Minneapolis $448 $434
St. Louis $304 $295
New Orleans $328 $321
Stamford, Conn. $988 $968
Pittsburgh $237 $232
Columbus $296 $295
Houston $304 $308
Dallas/Fort Worth $329 $334
Greater Kansas City $309 $314
Cincinnati $284 $301
Detroit $201 $215
Indianapolis $244 $262
Cleveland $249 $273