Yahoo list of worst housing markets excludes Las Vegas
Maybe Las Vegas is not at the bottom of the housing market after all.
A new list of the 15 worst housing markets for the next five years is out — and Las Vegas isn’t even mentioned.
The list, posted Friday at Yahoo Finance, says the worst place to invest between now and 2016 is Miami.
Yahoo Finance says Miami’s cumulative growth from 2005 to 2011 was a minus 54.3 percent. It expects annualized growth of minus 0.7 percent through 2016 and sees the third quarter of 2012 as Miami’s low point.
Second worst on the list is Atlantic City.
Others, in order are No. 3, Nassau County, New York; No. 4 (tie) Fort Lauderdale, Fla. Midland, Texas and Washington, D.C.; No. 7, Abilene, Texas; No. 8 Morgantown, W. Va.; No. 9 (tie), Austin, Texas and Waterloo-Cedar Falls, Iowa; No. 11 (tie), Baton Rouge, La., Amarillo, Texas; Lancaster, Pa., Monroe, La., and Shreveport, La.
Las Vegas has led the nation in foreclosures for months. A Case-Shiller report earlier this week noted that of the 20 metropolitan areas, only Las Vegas and five other cities saw price decreases.