Home Prices

Timelines for Recovering From Negative Equity

Posted on Tuesday, March 30, 2010

Experts are predicting that underwater homeowners will not begin to recover 2015-2016 or as long as 2020 or later for some of the harder hit. Home prices are expected to increase at 3% a year for the next decade.

Specifically;

Washington D.C. 2015

Atlanta, Georgia; Dallas, Texas; and Riverside-San Bernardino, California 2016.

Boston, Massachusetts 2017.

Cape Coral-Fort Myers, Florida; Pittsburgh, Pennsylvania; Las Vegas; and Lancaster, Pennsylvania 2020.

Detroit even later.

More than 11.3 million, or 24% of all residential properties with mortgages were underwater at the end of the fourth quarter of 2009.


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