10 Riskiest Housing Markets, Fall 2006
November 8th, 2006 • Related • Filed Under
The PMI Group is out with it’s quarterly report on the risks in the mortgage world and it is no surprise that California is leading the way with with the greatest risk of property value depreciating. They have a great interest in this as the PMI group represents the mortgage insurance industry and helps determine the rates that homeowners are charged for private mortgage insurance.
- San Diego-Carlsbad-San Marcos, Calif., 60.3 percent
- Sacramento-Arden-Arcade-Roseville, Calif., 60.1 percent
- Oakland-Fremont-Hayward, Calif., 60 percent
- Santa Ana-Anaheim-Irvine, Calif., 59.9 percent
- Nassau-Suffolk, N.Y., 59.8 percent
- Riverside-San Bernardino-Ontario, Calif., 59.6 percent
- Boston-Quincy, Mass., 59.6 percent
- Providence-New Bedford-Fall River, R.I.-Mass., 59 percent
- Los Angeles-Long Beach-Glendale, Calif., 59 percent
- San Jose-Sunnyvale-Santa Clara, Calif., 58.9 percent
The percentage is the probability determined by the PMI Institute that housing prices in that market sector will go down 10 percent or more in the next two years. So San Diego has a 60.3 percent chance of declines of 10 percent or greater according to the PMI Group.
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Pingback by 10 Safest Housing Markets, Fall 2006 » The Real Estate Bloggers on 9 November 2006:
[...] Yesterday, we showed you the riskiest housing markets to buy in, now we have the safest markets to puchase a home in according to the PMIÂ Group. These communities the private mortgage industry thinks will show the safest places to buy without fear of a loss of value. [...]
Comment by Chicago Real Estate on 13 November 2006:
Is there a longer list available? I’m wondering where Chicago fell into the category.