Study says home prices at risk in San Diego, state
Jeremy Herron - UNION-TRIBUNE - ASSOCIATED PRESS
NEW YORK – Some homeowners in California, Florida and the Southwest now face more than a 60 percent chance their property will be worth less in two years, according to a new study by a mortgage insurer.
The PMI U.S. Market Risk index, released yesterday by PMI Mortgage Insurance, found that 15 of the nation’s largest metro areas – including San Diego – have a greater than 50 percent chance of seeing price drops. Eleven of those markets are in California and Florida. These are areas that enjoyed some of the largest price run-ups during a five-year housing boom that ended nearly two years ago.
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