NYC is absent! Awesome!!!!!!!!!!!!

1. Los Angeles

2008 median house price: $375,340
2009 projected change: -24.9%
2010 projected change: -5.1%

2. Stockton, Calif.

2008 median house price: $248,050
2009 projected change: -24.7%
2010 projected change: -4.0%

3. Riverside, Calif.

2008 median house price: $256,540
2009 projected change: -23.3%
2010 projected change: -4.8%

4. Miami-Miami Beach

2008 median house price: $293,590
2009 projected change: -22.8%
2010 projected change: -6.4%

5. Sacramento

2008 median house price: $225,140
2009 projected change: -22.2%
2010 projected change: 2.3%

6. Santa Ana-Anaheim

2008 median house price: $532,810
2009 projected change: -22.0%
2010 projected change: -3.5%

7. Fresno

2008 median house price: $257,170
2009 projected change: -21.6%
2010 projected change: -3.3%

8. San Diego

2008 median house price: $412,490
2009 projected change: -21.1%
2010 projected change: -2.9%

9. Bakersfield, Calif.

2008 median house price: $227,270
2009 projected change: -20.9%
2010 projected change: -2.5%

10. Washington, D.C.

2008 median house price: $343,160
2009 projected change: -19.9%
2010 projected change: -5.7%

http://finance.yahoo.com/real-estate/article/106346/10-Worst-Real-Estate-Markets-for-2009

jesus, California OWNS that list.

Tough times for California.

Right. California was the home to Countrywide. It is also a title-theory state, meaning that lenders own title to the property and borrowers have a deed-in-trust. So when they fail to pay, it's easy to foreclose.

It's also easy to foreclose in Florida, and foreclosures drive the prices of property down.

New York is a lien-theory state, and foreclosures take over a year. Co-ops are not counted as foreclosures until after the action is executed, not when it is filed.

Finally, New York typically trails the rest of the economy in downturns. This is no exception.

The worst property decline in history was in Japan - prices fell 75%, and have yet to recover.

So when you quote statistics, know what you're quoting. And don't find silver linings when there aren't any. California's prices are now going up.

Also,
Remember that everyone forecasted a low, single digit drop for California for 2008. I forget when I read it, but I'm sure if I had a list of Yun's NAR quotes it would be in there somewhere.

How does that other places are worse supposed to make us feel better about the crash here?

NYC is absent because Case-Shiller doesnt breakout NYC separately.

"California prices are going up"

LMAO, Steve just shut up and stick with your questionable New York commentary. I live in Los Angeles and I laughed out loud.

Prices going up? Are you dumb?

buy now or be priced out forever

Prices in CA going up? Ha ha, that is funny steve.

once again, stevejhx demonstrates that he has NO CLUE what he is talking about.
Prices going UP in California? Yeah, maybe in 2012. Until then, they are still depreciating by the day everywhere.

LOL @ nyc10022 buy now or be priced in forever.