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Southern Calif., Northeast Top List Of Riskiest Markets.(Brief Article)
New York -- Four California markets - San Diego, San Jose, Santa Ana and Oakland - have joined Long Island, N.Y., and Boston, making the nation's short list of housing markets with the highest risk of price declines.
According to the most recent "U.S. Market Risk Index" issued by PMI Mortgage Insurance Co., Walnut Creek, Calif., these six markets feature "a greater than 50% chance of experiencing price declines," while price decline risk in 36 of the country's 50 largest housing markets follows suit.
"We are continuing to witness record-paced home price appreciation in many markets without necessary gains in income, home affordability and rent inflation," said PMI economist Marco Van Akkeren. "This is causing ...
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Source: HighBeam Research, Southern Calif., Northeast Top List Of Riskiest Markets.(Brief...