This is what we are hearing almost every day from multiple media sources on the state of the real estate market. Unfortunately this may be true for many parts of the country when looking at a study done by Fortune Magazine that examines future real estate values in 54 metropolitan areas over the next 5 years. The good news is that Cleveland, yes Cleveland, comes out on top. Of the 54 areas in the report, all but 7 report declining values within the next 5 years. Cleveland is expected to have the largest gain followed by Indianapolis, Cincinnati, Detroit, Kansas City, Dallas/Fort Worth andHouston.
Price trends for 54 major metropolitan areas:
http://money.cnn.com/magazines/fortune/price_rent_ratios/
Wednesday, February 6, 2008
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