14 states that still haven’t fully recovered from the housing crash

business news

American households lost $16 trillion in net worth because of the housing and credit crisis of the late 2000s, according to CoreLogic.

Since then, there’s been a long and slow slog to recovery. Compared to the peak of the national housing market in 2006, US home prices are about 1% higher, on average.

But many states still have home prices in the red compared to where they were at the top.

To be clear, home prices at the precrash peak were far from normal; that’s why a bubble formed and then popped. Yet some homeowners who bought at the market top and survived the crash would sell at a loss today.

Below are the states where average home prices are still below their precrisis peak. It has the negative peak-to-current price change, reflecting how far underwater homeowners who bought at the top and held on still are, and the trough-to-current price change, showing how much prices have recovered from the worst point of the crisis.

SEE ALSO: Homebuyers now have something else to be worried about besides the housing shortage


Precrisis peak date: November 2006

Peak-to-current price change: -1%

Trough-to-current price change: 21%



Precrisis peak date: August 2007

Peak-to-current price change: -2%

Trough-to-current price change: 23%


West Virginia

Precrisis peak date: April 2006

Peak-to-current price change: -9%

Trough-to-current price change: 25%


See the rest of the story at Business Insider

Комментариев нет

Добавить комментарий

Этот сайт использует Akismet для борьбы со спамом. Узнайте как обрабатываются ваши данные комментариев.

business news
Trump’s trade fight and the unwinding of a $3 billion bet are clobbering copper

Copper prices on the London Metal Exchange slipped below $6,000 for the first time in a year Thursday. Analysts say trade escalations are weighing on a market already under pressure. An unwinding of a $3 billion long position put pressure on prices earlier this month.  Follow copper in real time …

business news
Trump threatens to slam a massive tariff on European cars, which could cause economic chaos

President Donald Trump on Friday threatened to impose a 20% tariff on imports of cars from the European Union. The move would be a huge escalation of Trump’s ongoing trade conflict with the EU. Trump already hit Europe with steel and aluminum tariffs, angering EU leaders and triggering retaliation. President …

business news
Bitcoin’s rough patch looks like the Nasdaq during the tech bubble — except it’s moving 15 times faster

Bitcoin fell as much as 70% from its mid-December high through its recent early-February low. The cryptocurrency’s price chart mirrors that of the Nasdaq Composite Index during the dotcom bubble era, but there’s a catch. Historical fluctuations in the Nasdaq should provide a template for how bitcoin will trade going …