Real Estate 2011: No Rebound, No V
What's in store for real estate in 2011? The year 2010 was a terrible one for the U.S. housing market. We started the year with high hopes that since 2009 had been so shockingly bad, 2010 could only get better. Next came the euphoria of the first-time home buyer's credit. Then came the slide: We ended the year with sinking home values in almost every U.S. market, except four: Los Angeles, San Diego, San Francisco and Washington, D.C.
Even worse: Six U.S. markets hit their lowest pricing levels since 2006: Miami, Charlotte, Atlanta, Portland Oregon, Seattle and Tampa.
So how do we look for the new year?