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.
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.