Fortune Predicts Miami Will Have the Fourth Worst Real-Estate Market in 2009

Here's another tidbit courtesy of financial magazine's OCD need for lists: Fortune predicts that the Miami-Miami Beach are will be the fourth worst real-estate market for 2009. No real analysis attached to the list-icle, but they predict that the median house price in the area will fall 22.8% next year. Ouch. In 2010 they predict the...

By Kyle Munzenrieder

December 22, 2008

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Here's another tidbit courtesy of financial magazine's OCD need for lists: Fortune predicts that the Miami-Miami Beach are will be the fourth worst real-estate market for 2009.

No real analysis attached to the list-icle, but they predict that the median house price in the area will fall 22.8% next year. Ouch. In 2010 they predict the bleeding will stem a little, and that the figure will only fall by 6.4%. Still ouch. Of course to blame: the building boom.

Eight of the other spots on the list are taken by California locales, with LA coming in number one. Washington, D.C. is the only other non-Cali city on the list.

--Kyle Munzenrieder

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