Wild Wild West Housing Market: Are Ghost Towns Making a Comeback?

Are some cities in the U.S. in danger of becoming ghost towns like those in the early west? The recession and its toll on housing prompted the Mortgage Brokers Association (MBA) and its Research Institute for Housing American (RIHA) to produce A Study of Real Estate Markets in Declining Cities which was released on Friday. The study, conducted by James R. Follain, Ph.D., Senior Fellow of the Rockefeller Institute of Government uses a detailed statistical analysis of trends over the past 40 years with particularly emphasis on seven large metropolitan areas since 2000. Follain said his goal was to offer insights on the potential future evolution of real estate markets in cities that are in the midst of a severe and persistent economic decline. Typically, he said, a declining city is one that...(read more)

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Source: http://www.mortgagenewsdaily.com/01102011_mba_declining_cities.asp

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