These 40 cities may see housing prices decline, survey says

  • When it comes to finding a place to live, an urban setting at a fair price might be right up your alley.
  • Be sure to look beyond those low costs to see whether the real estate market in your chosen city is stable.
  • New data from GOBankingRates suggest that certain cities are particularly vulnerable based on their foreclosure and delinquency rates.

On top of the list is Newark, New Jersey, which also came in first with highest delinquency rate and highest homeowner vacancy rate.

Other Northeast cities to make the list include Baltimore; Bridgeport, Conn.; Hartford, Conn.; Philadelphia; and Syracuse, New York.

Midwestern cities were also prominent, including Chicago; Cleveland; Dayton, Ohio; Detroit; Toledo, Ohio; Akron, Ohio; Milwaukee; and Rockford, Joliet and Aurora, all in Illinois.

Southern cities also rounded out the top 40, including Birmingham, Alabama; Columbus, Georgia; Jacksonville, Florida; Memphis; Mobile, Alabama; New Orleans; and Norfolk, Virginia, among others.

Rank City State
1 Newark New Jersey
2 Detroit Michigan
3 Bridgeport Connecticut
4 Baltimore Maryland
5 Hartford Connecticut
6 Paterson New Jersey
7 Cleveland Ohio
8 Fayetteville North Carolina
9 Dayton Ohio
10 Montgomery Alabama
11 Columbia South Carolina
12 Birmingham Alabama
13 Toledo Ohio
14 New Haven Connecticut
15 Columbus Georgia
16 Akron Ohio
17 Macon Georgia
18 Philadelphia Pennsylvania
19 Rockford Illinois
20 Newport News Virginia
21 Chicago Illinois
22 Hampton Virginia
23 Norfolk Virginia
24 Syracuse New York
25 Joliet Illinois
26 Little Rock Arkansas
27 Mobile Alabama
28 Jacksonville Florida
29 Saint Louis Missouri
30 Miami Beach Florida
31 New Orleans Louisiana
32 Lansing Michigan
33 Aurora Illinois
34 Miami Florida
35 Memphis Tennessee
36 Savannah Georgia
37 Milwaukee Wisconsin
38 Tallahassee Florida
39 Bakersfield California
40 Tulsa Oklahoma

Source: GOBankingRates

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Would anyone here buy in any of those cities?

@Elt1 did in Bakersfield.

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I often question media reporting since their opinions are biased and misleading purposely sometimes. But the statistics number is not polls of opinions, these statistics should be close to reality.

As the report shows, 32% of the Newark mortgages have a negative equity. Seems high taxes are killing some cities in New Jersey and Connecticut.

“ Newark, N.J.

  • Total number of homes underwater : 4,978
  • Percentage of homes with mortgage in negative equity : 32%
  • Percentage of homes underwater YOY change : 5.2%”

Newark is the worst place of NJ to be. It’s like saying Bay Area is dying using Stockton as an example.

Newark is the most populous city in NJ. Newark is Los Angeles of New Jersey.

Also Newark is only 16 miles to Manhattan

More like the Detroit of Michigan.

Jersey city, the second biggest city in NJ, is even closer to NYC and doing much better.

But Newark is merely 16 miles to manhattan.

Northeast is the worst investment I can think of. Avoid that whole region.

Jersey City, mind you.

Avoid that region only in your dreams. It’s the second best place to be in America after California.

Jersey City is second to Newark in population.

Northeast is going down and it’s still very expensive. Worse investment than AUSTIN

Laughable conclusion.

Not at all. NYC housing price history is here

http://www.jparsons.net/housingbubble/new_york.html

That chart stops at 2014. What happened after that?

NYC is the financial capital of the world. Haters gonna hate but it’s been doing great for the last 100+ years. It will continue to do great despite constant doom and gloom from conservative types.

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Anyone has bought rentals in NYC?

A NYC price double in 27 years is rather disappointing. It just matches inflation, I would rather buy stock than NYC houses