The 10 worst home markets in the USA (RE market, foreclosure, agents)

[soothsayer1234]

They are as follows, with #1 being worst:
10.)Oakland, CA.
9.)Bakersfield, Ca.
8.)Miami, Fla.
7.)Cleveland, Oh.
6.)Sacramento, Ca.
5.)Las Vegas
4.)Ft. Lauderdale
3.)Riverside, Ca.
2.)Detroit
and, #1.........drum roll.....

STOCKTON, CA. !!

Five honorable mention worst housing markets:
Akron, Oh.
Denver, Co.
Fresno, Ca.
Memphis, Tn.
Phoenix, Az.

All RE agents that are surviving the above imploded markets deserve
a collective purple heart award!

[DMenscha]

Poor misunderstood Stockton. It's just an hour's drive from me and the place I go to do big box shopping. Even worse;
HTTP://RECORDNET.COM/APPS/PBCS.DLL/ARTICLE?aid=/20071112/a_news/711120325/-1/a_sports04 (broken link)

Stockton is number 1 in foreclosures, not the worst housing market BTW.

[soothsayer1234]

Originally Posted by DMenscha

Poor misunderstood Stockton. It's just an hour's drive from me and the place I go to do big box shopping. Even worse;
HTTP://RECORDNET.COM/APPS/PBCS.DLL/A.../-1/a_sports04

Stockton is number 1 in foreclosures, not the worst housing market BTW.

I would say that, as in the jokes that go the way of "you might be a ____ if______", you can certainly say that you might be the worst housing market if you lead the nation with a bullet per foreclosures. I would say that that would be the most telling stat of any used per bad housing markets. 1 in every 31 homes in Stockton has filed for foreclosure at this point. That means that there is a foreclosure on every block, statistically speaking. That would beat out Flint Michigan in the late 80's when Roger and me was filmed. It also beats out the city of Detroit itself currently. It has been written up in countless surveys as the worst RE market. On the contrary, Stockton is the RE equivalent of hell on earth.
Bon Appetite!

[dj32]

I"m really surprised to see Denver as an "honorable mention".. we have had slight declines, but it's been rather flat here. I'm not a realtor, maybe some of them can chime in on this one.

[olecapt]

Originally Posted by soothsayer1234

They are as follows, with #1 being worst:
10.)Oakland, CA.
9.)Bakersfield, Ca.
8.)Miami, Fla.
7.)Cleveland, Oh.
6.)Sacramento, Ca.
5.)Las Vegas
4.)Ft. Lauderdale
3.)Riverside, Ca.
2.)Detroit
and, #1.........drum roll.....

STOCKTON, CA. !!

Five honorable mention worst housing markets:
Akron, Oh.
Denver, Co.
Fresno, Ca.
Memphis, Tn.
Phoenix, Az.

All RE agents that are surviving the above imploded markets deserve
a collective purple heart award!

Based upon what? All such things should contain a cite or be immediately dismissed as garbage.

So garbage.

[soothsayer1234]

Originally Posted by dj32

I"m really surprised to see Denver as an "honorable mention".. we have had slight declines, but it's been rather flat here. I'm not a realtor, maybe some of them can chime in on this one.

Denver ranks near the top because of the combination of declines AND the extremely high foreclosure rate. If you use a multiplier effect, the combination is quite extreme. Worst, the foreclosure rate itself drags the average home price down in a death spiral. I'm sure those in the RE industry in Denver will tell you that its booming, however, and that the mention is greatly mistaken. Any market that is near the top of the nation in foreclosure filings is by default a bad home market. Denver just got an honorable mention, which at least didn't put them in the top 10 worst. They have to get their filings way down before they could be even close to being considered a healthy RE market.

[DanielChang]

Where are you getting these statistics? Who says this and according to what criterion?

[ProLogic]

I find this pretty valid considering California has the worst housing market in all of the U.S.

[jeffselan]

Using a purple heart in that post is quite disrespectful to those that actually receive them.

[dj32]

yeah,still don't believe it about Denver- in fact, I just read another article talking about how Denver was the #1 most stable market in the country.