“These people are trying to talk down the US economy.”
You get a gold star on your forehead for the best performance of the day. That is exactly what they are trying to do.
Our economy is extremely strong and will continue so for a long time. The big probblem we have is that homes in Cali and the Northeast are over priced. That is it. It will be corrected.
| Rank | Area | State | Peak | Bottom | Peak to bottom home price decline |
|---|---|---|---|---|---|
| 1 | Stockton | CA | 06Q1 | 08Q4 | -25.0 |
| 2 | Palm Bay-Melbourne-Titusville | FL | 06Q1 | 08Q4 | -24.9 |
| 3 | Sarasota-Bradenton-Venice | FL | 06Q1 | 08Q3 | -24.8 |
| 4 | Reno-Sparks | NV | 06Q1 | 09Q1 | -22.4 |
| 5 | Modesto | CA | 06Q2 | 08Q3 | -22.3 |
| 6 | Detroit-Livonia-Dearborn | MI | 05Q3 | 09Q1 | -21.3 |
| 7 | Fresno | CA | 06Q2 | 09Q1 | -20.0 |
| 8 | Oxnard-Thousand Oaks-Ventura | CA | 06Q2 | 08Q3 | -19.2 |
| 9 | Sacramento--Arden-Arcade--Roseville | CA | 06Q1 | 08Q4 | -19.1 |
| 10 | Las Vegas-Paradise | NV | 06Q2 | 08Q4 | -18.7 |
| 11 | Deltona-Daytona Beach-Ormond Beach | FL | 06Q1 | 08Q3 | -17.9 |
| 12 | Phoenix-Mesa-Scottsdale | AZ | 06Q2 | 08Q2 | -17.8 |
| 13 | Hartford-West Hartford-East Hartford | CT | 07Q1 | 08Q4 | -17.6 |
| 14 | Cape Coral-Fort Myers | FL | 06Q1 | 08Q4 | -17.3 |
| 15 | Visalia-Porterville | CA | 06Q2 | 08Q4 | -16.1 |
| 16 | Riverside-San Bernardino-Ontario | CA | 07Q1 | 09Q2 | -15.9 |
| 17 | Bethesda-Gaithersburg-Frederick | MD | 06Q2 | 08Q4 | -15.9 |
| 18 | Lansing-East Lansing | MI | 05Q3 | 09Q1 | -15.7 |
| 19 | Bakersfield | CA | 06Q2 | 09Q1 | -15.6 |
| 20 | Warren-Farmington Hills-Troy | MI | 05Q4 | 09Q1 | -15.4 |
| 21 | Newark-Union | NJ-PA | 07Q1 | 08Q4 | -15.4 |
| 22 | Vallejo-Fairfield | CA | 06Q1 | 09Q2 | -15.3 |
| 23 | Orlando-Kissimmee | FL | 07Q1 | 09Q1 | -15.1 |
| 24 | Santa Rosa-Petaluma | CA | 06Q1 | 08Q4 | -14.0 |
| 25 | Poughkeepsie-Newburgh-Middletown | NY | 06Q2 | 08Q3 | -13.9 |
| 26 | Edison | NJ | 06Q3 | 08Q4 | -13.3 |
| 27 | Worcester | MA | 05Q4 | 08Q3 | -13.0 |
| 28 | Baltimore-Towson | MD | 07Q2 | 09Q2 | -12.8 |
| 29 | Peabody | MA | 05Q4 | 08Q3 | -12.5 |
| 30 | Nassau-Suffolk | NY | 07Q2 | 09Q1 | -12.3 |
| 31 | West Palm Beach-Boca Raton-Boynton Beach | FL | 06Q1 | 08Q3 | -12.2 |
| 32 | Tampa-St. Petersburg-Clearwater | FL | 06Q4 | 08Q3 | -11.7 |
| 33 | Tucson | AZ | 06Q2 | 08Q4 | -11.7 |
| 34 | Santa Ana-Anaheim-Irvine | CA | 06Q2 | 09Q1 | -11.6 |
| 35 | Washington-Arlington-Alexandria | DC-VA-MD-WV | 07Q3 | 09Q4 | -11.5 |
| 36 | Fort Lauderdale-Pompano Beach-Deerfield Beach | FL | 06Q1 | 08Q4 | -11.5 |
| 37 | Flint | MI | 06Q1 | 08Q2 | -11.3 |
| 38 | Cleveland-Elyria-Mentor | OH | 05Q3 | 07Q4 | -11.3 |
| 39 | San Diego-Carlsbad-San Marcos | CA | 06Q1 | 08Q4 | -10.9 |
| 40 | Los Angeles-Long Beach-Glendale | CA | 07Q3 | 09Q1 | -10.6 |
| 41 | Oakland-Fremont-Hayward | CA | 07Q3 | 08Q4 | -10.3 |
| 42 | Portland-South Portland-Biddeford | ME | 06Q1 | 08Q3 | -10.2 |
| 43 | Rockingham County-Strafford County | NH | 06Q1 | 08Q3 | -10.2 |
| 44 | Miami-Miami Beach-Kendall | FL | 07Q2 | 08Q4 | -9.9 |
| 45 | Boston-Quincy | MA | 05Q3 | 08Q4 | -9.4 |
| 46 | Providence-New Bedford-Fall River | RI-MA | 06Q1 | 08Q3 | -9.4 |
| 47 | New Orleans-Metairie-Kenner | LA | 06Q2 | 07Q3 | -9.4 |
| 48 | Wilmington | DE-MD-NJ | 06Q3 | 08Q3 | -9.2 |
| 49 | Cambridge-Newton-Framingham | MA | 05Q3 | 08Q3 | -9.0 |
| 50 | Youngstown-Warren-Boardman | OH-PA | 05Q1 | 07Q4 | -8.7 |
| 51 | Toledo | OH | 05Q4 | 07Q4 | -8.3 |
| 52 | Salinas | CA | 07Q3 | 08Q4 | -8.1 |
| 53 | Colorado Springs | CO | 07Q1 | 08Q3 | -7.8 |
| 54 | Boise City-Nampa | ID | 07Q2 | 08Q4 | -7.7 |
| 55 | Winston-Salem | NC | 05Q2 | 07Q4 | -7.6 |
| 56 | Denver-Aurora | CO | 06Q2 | 08Q3 | -7.6 |
| 57 | Lakeland | FL | 07Q2 | 08Q3 | -7.5 |
| 58 | Portland-Vancouver-Beaverton | OR-WA | 07Q3 | 08Q4 | -7.2 |
| 59 | Pensacola-Ferry Pass-Brent | FL | 06Q1 | 08Q3 | -7.0 |
| 60 | New Haven-Milford | CT | 07Q3 | 08Q3 | -6.7 |
| 61 | Jacksonville | FL | 07Q3 | 08Q3 | -6.4 |
| 62 | Camden | NJ | 07Q2 | 08Q3 | -6.3 |
| 63 | Minneapolis-St. Paul-Bloomington | MN-WI | 06Q3 | 09Q2 | -6.0 |
| 64 | Albuquerque | NM | 07Q3 | 08Q3 | -5.9 |
| 65 | Tacoma | WA | 07Q3 | 08Q3 | -5.5 |
| 66 | New York-White Plains-Wayne | NY-NJ | 07Q3 | 08Q4 | -5.3 |
| 67 | Grand Rapids-Wyoming | MI | 05Q4 | 07Q3 | -5.3 |
| 68 | Bridgeport-Stamford-Norwalk | CT | 07Q3 | 08Q4 | -5.1 |
| 69 | Lexington-Fayette | KY | 06Q1 | 08Q1 | -5.1 |
| 70 | Fayetteville-Springdale-Rogers | AR-MO | 06Q2 | 07Q4 | -4.6 |
| 71 | San Jose-Sunnyvale-Santa Clara | CA | 07Q3 | 08Q4 | -4.4 |
| 72 | Virginia Beach-Norfolk-Newport News | VA-NC | 07Q3 | 08Q3 | -4.1 |
| 73 | Columbus | OH | 05Q4 | 07Q1 | -3.7 |
| 74 | Dayton | OH | 06Q4 | 07Q3 | -3.7 |
| 75 | Indianapolis | IN | 05Q3 | 06Q4 | -3.7 |
| 76 | Provo-Orem | UT | 07Q3 | 08Q3 | -3.6 |
| 77 | Chattanooga | TN-GA | 06Q3 | 07Q4 | -3.5 |
| 78 | Tulsa | OK | 06Q3 | 07Q4 | -3.4 |
| 79 | Salt Lake City | UT | 07Q3 | 08Q3 | -3.4 |
| 80 | Allentown-Bethlehem-Easton | PA-NJ | 07Q3 | 08Q4 | -3.3 |
| 81 | Philadelphia | PA | 07Q3 | 08Q3 | -3.1 |
| 82 | Lake County-Kenosha County | IL-WI | 06Q3 | 08Q2 | -3.1 |
| 83 | Wichita | KS | 07Q1 | 07Q4 | -2.9 |
| 84 | Seattle-Bellevue-Everett | WA | 07Q3 | 08Q3 | -2.9 |
| 85 | Ogden-Clearfield | UT | 07Q3 | 08Q3 | -2.9 |
| 86 | Milwaukee-Waukesha-West Allis | WI | 06Q3 | 07Q1 | -2.9 |
| 87 | Birmingham-Hoover | AL | 06Q3 | 07Q3 | -2.9 |
| 88 | Jackson | MS | 06Q3 | 07Q4 | -2.9 |
| 89 | Richmond | VA | 07Q2 | 10Q3 | -2.8 |
| 90 | Cincinnati-Middletown | OH-KY-IN | 05Q3 | 07Q2 | -2.8 |
| 91 | San Francisco-San Mateo-Redwood City | CA | 07Q3 | 08Q2 | -2.7 |
| 92 | Albany-Schenectady-Troy | NY | 07Q2 | 07Q4 | -2.7 |
| 93 | Springfield | MA | 07Q3 | 08Q2 | -2.6 |
| 94 | Spokane | WA | 07Q3 | 08Q3 | -2.6 |
| 95 | Omaha-Council Bluffs | NE-IA | 06Q2 | 07Q4 | -2.1 |
| 96 | Kansas City | MO-KS | 06Q1 | 07Q2 | -2.0 |
| 97 | McAllen-Edinburg-Mission | TX | 05Q1 | 07Q2 | -2.0 |
| 98 | Fort Worth-Arlington | TX | 06Q2 | 07Q1 | -1.9 |
| 99 | Oklahoma City | OK | 07Q3 | 07Q4 | -1.6 |
| 100 | Memphis | TN-MS-AR | 06Q2 | 07Q3 | -1.1 |
Ah, so THAT is why the FED just slashed the prime rate by 50 basis points! The economic outlook is so strong, they just wanted to make it even stronger.