10 Best U.S. Housing Markets: Only Two in California

forbes-nyc

Courtesy Forbes.com New York City

Chicago Sun-Times published this deansguide article 2-27-09

FoxBusiness.com published this deansguide article 2-27-09

According to a new Forbes.com report “10 Best and Worst US Housing Markets” California only has two markets rated in the top 10 Best: San Diego #5 and Los Angeles at #9. The most surprising fact was San Francisco’s ranking as the #5 Worst housing market in the nation.

The 10 Best Housing Markets in the US

  1. New York, NY
  2. Washington, D.C.
  3. Charlotte, NC
  4. Portland, OR
  5. San Diego, CA
  6. Denver, CO
  7. Boston, MA
  8. Dallas, TX
  9. Los Angeles, CA
  10. Seattle, WA
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3 thoughts on “10 Best U.S. Housing Markets: Only Two in California

  1. And the following from Ilya a Canadian real estate professional:

    “I can’t believe that with the State of California teetering on the brink of bankruptcy, that San Diego and Los Angeles would be considered among the Top 10 housing markets in the US. This is pure dribble.”

    I always find it funny when people leave comments that do not finish a thought. I also find it interesting that a Calgary Canada based professional would understand the California real estate market. It is always entertaining to me when somebody completely removed decides that Forbes.com information is “pure dribble” without telling us why.

    The only conclusion I can make is that they left this attempt at a comment to have me publish so that a live link to their site would show up for others to follow. That’s what is known as comment spam. If Ilya had just made a case for her comment, I might have published the url to her site–sorry not this time.

  2. It’s pure dribble because the 8th largest economy in the world can barely pay its civil servants, and yet Forbes is claiming that two of California’s largest cities are worth buying homes in. One of the first things I learnt when becoming a licensed real estate professional is to never predict the market. The media of course is not bound by my industry’s rules and regulations, so they regularly speculate. My colleagues and I always love to watch them eat their words, especially when they try to predict the market in dire economic times such as these.

    Residential real estate prices are tied to local and regional economies. California is bordering on a 10% unemployment rate and runs a State deficit that I shudder to even mention. If anyone is still making a penny on the resale of their home in San Diego or Los Angeles, it’s because somebody else has either bought into a story about the market coming right back, or the buyer has been misguided by an agent, family, et al.

    Also — it’s him, not her. I’m Ilya as in Ilya Kovalchuk of the Atlanta Thrashers, Ilya Salkind who produced the Superman franchise, and Ilya Kuriakin of the Man from U.N.C.L.E.

    As for how I ended up on your website, I like to stay informed and abreast of what is going on in my industry — be it here in Canada or across the border with our largest trading partner. I left my original comment for no other reason than because I could. Didn’t realize it would be ill received.

  3. Ilya,

    Welcome back. California’s unemployment rate is 10.1% as of this writing. There are micro-niches like micro climates in the Napa Valley. There are neighborhoods in cities around the state that hold their price better than the majority. Whether that is the case in San Diego or Los Angeles I don’t know.

    What I do understand is that if an investor reviews the historical data on appreciation of homes in California, now is one of the greatest times in decades to buy–if you qualify, can get funding, and have patience.

    Now I have a question for you. Why the bitter diatribe on California real estate? It seems like you have an axe to grind. I am sure you have advantages to the market you service in Canada. I am also sure that Canada is NOT immune to the economic crisis that has settle over the WORLDS’S economy not just California’s economy.

    “Ill received”? Yeah and if I started hacking on Hockey and the Maple Leaf would you sit back and take it or would you ask for more information? So why so bitter? If you think people are being stupid in their buying sensibilities when looking at real estate in these areas, then why don’t you call them on it. Instead you are hammering on Forbes?

    The final final is very simple. People buy California real estate because the weather is sensational, the areas are for the most part beautiful, and the majority of the people are worth meeting.

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