Ratings Agencies

What Did they predict in 2005?

Posted on Friday, February 4, 2011

Many well remember the problems helped by the rating agencies, given their sad predictive
> performance from 2005-2008. Nonetheless, the agencies do exist, and produce interesting
> information. Moody's projects some markets will have to wait decades for home prices
> to return to pre-recession levels. In order, the 10 worst are Naples, FL and Salinas,
> CA which will take until 2038 to recover. They are followed by Detroit, MI; Hanford,
> CA; Punta Gorda, FL; Palm Bay, FL; North Port, FL; Phoenix, AZ; Stockton, CA; and
> Modesto, CA. The best areas include Pittsburgh, PA; Syracuse, NY; Rochester, NY;
> Clarksville, TN and Spokane, WA, which are expected to return to peak levels in
> 3 years. (The question is, in 2005, did Moody's predict what values would do in
> the following 5 years?)crisman

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