The Briefing Room
General Category => Economy/Business => Topic started by: Kamaji on July 27, 2022, 08:14:34 pm
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These US housing markets are most at risk for price plunge: analysis
By Thomas Barrabi
July 27, 2022
Markets that enjoyed huge run-ups in prices during the pandemic-era housing boom are now among those most at risk for a major correction if the US economy enters a recession, according to an analysis by real estate firm Redfin.
Redfin noted that the US housing market has “slowed considerably” this spring due to soaring interest rates and decades-high inflation.
That means buyers who poured into “popular migration destinations” during the COVID-19 pandemic are likely to see price declines in those overheated markets.
The coastal city of Riverside, Calif. had the highest “downturn risk score” of 84 out of 100, followed the once-booming market of Boise, Idaho with a 76.9 rating and a smattering of cities in warm-weather locales across Florida, Arizona and California.
“What goes up must come down,” Redfin senior economist Sheharyar Bokhari said.
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Source: https://nypost.com/2022/07/27/these-us-housing-markets-are-most-at-risk-for-price-plunge/
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I would hardly call Riverside CA "coastal." Is the rest of the article this retarded?
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I would hardly call Riverside CA "coastal." Is the rest of the article this retarded?
In this context, I don't believe "coastal" means "sitting on the waterfront"; it is coastal in the sense that it is in a state that is on the coast.
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In this context, I don't believe "coastal" means "sitting on the waterfront"; it is coastal in the sense that it is in a state that is on the coast.
That's possible, and indicates a lazy mind. Riverside is also about a hundred miles from the River it's beside.
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That's possible, and indicates a lazy mind. Riverside is also about a hundred miles from the River it's beside.
Riverside....One Big earthquake away from ocean front property