Home Price Time Machine
The Finance and Commerce blog pointed us in the direction of a new way to look at which communities have been hit hardest by the foreclosure crisis. They mentioned that Calculated Risk had created a unique graphic that doesn't just look at how much housing prices have declined, it compares markets by how far backward in time housing prices have retreated.
In the Twin Cities area, for instance, prices have fallen to the point they were at in 2001. In Dallas, prices have only retreated to 2006 prices. In Detroit, houses are going for the same price they reached in 1995.
Housing consultant John Burns presented this slide as part of the UCLA Anderson Forecast. He used median prices for this slide.
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