Monday, December 29, 2008

B-town makes Top 10 list of worst real estate markets

Not that anybody suspected otherwise, but once again Bakersfield shows up on a newly released list of the nation's worst real estate markets. Eight of those ten are in California and Bakersfield is ranked No. 9. It's another indication that we've got a ways to go to dig out of this mess, and any recovery will be half hearted with real estate leading the way. The list is from the NBC affiliate in the Bay Area and was compiled by the S&P Case-Shiller national home price index. 2009 looks like another tough year.

Top Ten Worst Markets
1) Los Angeles: Projected to be down 24.9 percent in 2009
2) Stockton: Projected 2009: down 24.7 percent
3) Riverside: Projected 2009: down 23.3 percent
4) Miami-Miami Beach: Projected 2009: down 22.8 percent
5) Sacramento: Projected 2009: 22.2 percent
6) Santa Ana-Anaheim: Projected 2009: down 22 percent
7) Fresno: Projected 2009: down 21.6 percent
8) San Diego: Projected 2009: 21.1 percent
9) Bakersfield: Projected 2009: down 20.9 percent
10) Washington, D.C.: Projected 2009: down 19.9 percent

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