Almost half of single-family houses in the New York and Washington metropolitan areas are losing value, a sign that buyers' tolerance for high prices in many large U.S. cities may be reaching a limit.
The values of 45 percent of houses in both the Washington and New York areas slumped by at least 2 percent in June from a year earlier, according to a new index created by Allan Weiss, co-founder of the Case-Shiller home price indexes. In June 2014, only 15 percent of Washington residences dropped in value, while 20 percent fell in New York. Because the index is of only single-family homes, it doesn't include Manhattan. More properties also were in decline in Los Angeles, Chicago, Phoenix and Miami.
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5 comments:
Not just there. It's freaking EVERYWHERE. Bought my house 10 yrs ago for $300.000 and now it's worth $225.000. Thanks you liberal POS!!!
You bought the wrong house at the wrong time. Sorry.
That sucks 11:42 but maybe in a year things will change. It has too for all our sake.
11:42 do like they do in Ocean City, have a fire, end of problem.
Haha I hear ya!!! My luck I'd get caught.
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