In a recent Forbes.com article “Ten U.S. Cities in Free Fall”, by Francesa Levy, Miami won the trophy for biggest loser! It seems that our median home price has fallen more than any other top-40 city in the country … a whopping 38% decline since the pricing peak in the second quarter in 2007.
The article cites more statistical woes, “The city’s 11% unemployment rate is above the national average and has grown more than most of the 40 cities surveyed.”
The “stats” follow:
Net population change, 2006-2009: 1.47%
Per Capita Gross Domestic Product: $42,645.52
Change in New Building Permits, February 2007-February 2010: -77.46%
Change in Unemployment, Jan. 2007-Jan. 2010: 202.70%
Change in New Jobs added, Feb. 20b. 2007-Feb. 2010: -9.68%
Change in Median Home Price from Market Peak: -38%
OUCH!
Click on the link below to read the full article.
http://www.forbes.com/2010/04/09/cities-top-ten-lifestyle-real-estate-unemployment-home-prices.html?partner=email
About the Zeder Team
The Zeder Team/EWM is one of South Florida’s most successful luxury real estate practices. With four realtors, a licensed broker on staff, and in-house marketing services, the team provides the best possible sales, marketing, and investment services to its clients. Each team member delivers a specific skill set that enhances overall client service and performance. Judy Zeder, founder and principal is one of the most successful realtors in the country, is consistently one of the top ten residential realtors in Florida, and is in the top one-half of one percent of realtors nationally. For more information visit http://www.allmiamirealestate.com
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