Skip to comments.Housing picture: 65 percent of markets worse off than before the bust
Posted on 10/23/2012 6:27:38 AM PDT by Lorianne
The past four years have hardly been a joyride for many of the nations homeowners.
But the economic suffering brought on by the housing bust has hit communities across America in vastly different ways, with some markets still ailing and others healthy, according to a new analysis released Monday by the research firm RealtyTrac.
The company looked at how housing markets in 919 counties across the country have fared since 2008, based on such factors as changes in home prices, unemployment rates and foreclosure activity. The result: 65 percent of those communities were worse off than they were in 2008.
A house often represents a homeowners biggest asset or liability, the RealtyTrac report stated. Unfortunately many houses fall into the liability column for U.S. homeowners.
The list of worse-off communities include places such as Cook County in Illinois (home to Chicago), where home prices have fallen nearly 20 percent, unemployment has risen and the inventory of foreclosures has soared. Areas around Atlanta, Tucson and Salt Late City also have suffered overall declines during the past four years.
(Excerpt) Read more at washingtonpost.com ...
Houses are selling well here. One house purchased for $210,000 7 years ago just sold for $240,000 after the owner sunk over $80,000 into windows, kitchen, bathrooms, etc for a net loss of $50,000 - realtor fee = $65,000. But it sold.