The map seems to contradict the SF Bay Guardian story a little bit, which reports that only three states (West Virginia, South Dakota, and Texas) have “enjoyed” increases in their home prices over the past year. But if I read the map correctly, New York and some of the rectangular states also increased in home values.
Anyway, the real story is California, which has had the largest home value drop. It probably means we had the largest bubble. We’ve lost home values at 28.3 percent over the past year. Only the states marked red have endured drops greater than 10 percent. Great news if you’re a speculator with some change in your pocket. Bad news if you have a mortgage and you’re hoping you have enough equity to refinance.
Did Wyoming have a bubble?? Or is VP Dick Cheney moving back home? Budda boom.
According to the article, the valley’s been hit the worst. But it’s only a matter of time before it spreads.